Here are three versions: a simple, strict one; a lazy one based on clojure.core combinators; and a lazy one based on the same combinators that takes an arbitrary number of inputs.
A simple strict approach
A sanity check on the lazy approaches.
(defn interleave-longer-strict [xs ys]
(take (* 2 (max (count xs) (count ys)))
(interleave (cycle xs) (cycle ys))))
Combinator-based lazy approach
This one is a lazy version based on map, mapcat, take-while, iterate, interleave and cycle:
(defn interleave-longer
"Lazy version of
(take (* 2 (max (count xs) (count ys)))
(interleave (cycle xs) (cycle ys)))"
[xs ys]
(map (fn [_ e] e)
(mapcat (fn [[xs ys]] [[xs ys] [xs ys]])
(take-while (fn [[xs ys]] (or xs ys))
(iterate (fn [[xs ys]] [(next xs) (next ys)])
[xs ys])))
(interleave (cycle xs) (cycle ys))))
To demonstrate that it is indeed lazy (NB. (range) never returns – if you actually consume it up through Long/MAX_VALUE, it'll just start returning clojure.lang.BigInts):
(take 30 (interleave-longer (range) (range 11)))
;= (0 0 1 1 2 2 3 3 4 4 5 5 6 6 7 7 8 8 9 9 10 10 11 0 12 1 13 2 14 3)
(take 30 (interleave-longer (range 11) (range)))
;= (0 0 1 1 2 2 3 3 4 4 5 5 6 6 7 7 8 8 9 9 10 10 0 11 1 12 2 13 3 14)
Combinator-based lazy approach with varargs
And finally, a lazy version based on the same primitives plus apply, repeat and count (applied to the varargs seq to establish how many inputs there are) that takes an arbitrary number of inputs:
(defn interleave-longest [& xss]
(map (fn [e & _] e)
(apply interleave (map cycle xss))
(mapcat (fn [xss] (repeat (count xss) xss))
(take-while (fn [xss] (some some? xss))
(iterate (fn [xss] (mapv next xss))
xss)))))
At the REPL:
(interleave-longest [:a :b :c :d] (range 11) '[x y z])
;= (:a 0 x :b 1 y :c 2 z :d 3 x :a 4 y :b 5 z :c 6 x :d 7 y :a 8 z :b 9 x :c 10 y)
(take 30 (interleave-longest [:a :b :c :d] (range) '[x y z]))
;= (:a 0 x :b 1 y :c 2 z :d 3 x :a 4 y :b 5 z :c 6 x :d 7 y :a 8 z :b 9 x)