One option is to cut the top as a single rectangle.  Then the sides have two squares that can be combined, and also the bottom.  Or you can make this block very scrappy and just use squares.

The center four patches are made from half square triangles.

You have many design options with this quilt block.  You can make very traditional, using white fabric for the sails, a wood print for the boat and blue for the sky, or you can make it in a whimsical design.

This makes a cute little wall hanging, and looks great in a sampler novelty quilt.

Here is a visual of this block with a a couple other novelty quilt blocks.