Rag quilt

Well, I've begun working on my first rag quilt. I cut out 5 inch squares of flannel fabric along with some shabby-chic fabrics that I have in my fabric stash.I've googled how to make a rag quilt... and it looks easy enough. So far its been easy. I started by laying out the back of the quilt squares, then the middle section then finally the design that I've come up with-- so far.Here is the top of the quilt with the 25 squares that I've got sewn together so far~

Here is the back. I was wanting it to look like a quilt on the back as well as the front, so I used two different colors of flannel on the backside. A solid light pink and a lime green and pink dotted flannel. It lined up beautifully~I'm not sure how each intersection of the 4 squares is going to look once I cut and fray the quilt. Will there be holes in those spots? If anyone knows, could you please share with me.... I'm thinking about sewing a mother of pearl buttons in those spots, and use enough floss to be able to tie a bow on the backside of the quilt giving it a tied look. I'm still in the planning stages~