Materials:
I used US #7 DPNs and 16 inch circular. It took less than 4 oz. of
wool.
Pattern:
Cast on 109 stitches loosely.
Round 1: Knit around and place marker.
Round 2: *k1, yf, slip 1, yb* Repeat around.
Continue in this pattern for 3 inches. With the odd number of cast-on stitches this should give you an alternating carried thread on every round.
Start spiral rib:
Rounds 1 & 2: k2, p2
Note: at end of first round, make one by knitting into stitch
below to make 110 stitches.
Rounds 3 & 4: p1, *k2, p2* repeat between ** and end with p1.
Rounds 5 & 6: *p2, k2* repeat
Rounds 7 & 8: k1, *p2, k2* repeat around and end with k1.
Repeat this sequence (rounds 1-8) Six times for a total of 48 rounds of spiral rib.
Start decrease rounds:
Round 1: *k2, p2 together* repeat
Round 2: *k2, p1* repeat
Rounds 3 & 4: *p1, k2* repeat
Rounds 5 & 6: slip 1, *p1, ssk* ending by moving marker past first k stitch and ssk the last and former first stitch together.
Round 7: *p4, k1* repeat
This is where I changed from circular to DPNs.
Round 8: *p2tog, p2, yb, slip 1 as if to p, yf* repeat around.
Round 9: *p3, k1* repeat
Round 10: *p2tog, p1, yb, slip 1 as if to p, yf* repeat
Round 11: *p2tog, k1* repeat
Round 12: ssk around, break yarn and weave remaining stitches together.
This little hat is reversible and can be worn cuff down or turned up.