Pattern:
Cast on 24 sts and knit (either garter or stockinette) for 30 rows.
Piece should be nice and loose - think "mesh".
Cast off and darn in ends. Wrap around satin ball and tie with gold ribbon, leaving a "pouf" of fabric at the top.
I did mine on my mid-gauge knitting machine, at a tension of 8 (same number of sts and rows).