Rib Pattern (multiple of 4 sts):
Rnd 1: *P2, k2; rep from * around.
Rnd 2: *P2, sl 1 knitwise, k1, drop knitted st carefully from needle, move sl st to left hand needle and move dropped stitch to right hand needle, k the sl st; rep from * around.
Rep Rnds 1 and 2 for Rib patt.
Slip Stitch Pattern (multiple of 3 sts):
Rnds 1 and 2: With B, knit.
Rnds 3 and 4: With A, *k1, sl 1 purlwise, k1; rep from * around.
Rnds 5 and 6: With B, knit.
Rnds 7 and 8: With A, knit.
Rnds 9 and 10: With B, *sl 1 purlwise, k1, sl 1 purlwise; rep from * around.
Rnds 11 and 12: With A, knit.
Rep Rnds 1–12 for Slip st patt.
Using smaller circular needle, CO 80 (88) sts. Place marker and join.
Work in Rib patt until piece measures 2"/5cm from CO edge.
Change to larger circular and inc as follows:
Inc Rnd: *K2, M1; rep from * around—120 (132) sts.
Rnds 1-38: Work Rnds 1–12 of Slip st patt 3 times, then work Rnds 1 and 2 of Slip st patt once more.
Rnd 39:*K1, sl 1 purlwise, [k2tog, sl 1 purlwise] 3 times, k1; rep from * around—90 (99) sts.
Rnds 40-43: Work Rnds 4–7 of Slip st patt.
Rnd 44: *K1, k2tog; rep from * around—60 (66) sts.
Rnds 45-48: Work Rnds 9–12 of Slip st patt.
Change to B and Stockinette st changing to dpns when necessary.
Rnd 49: *K2tog; rep from * around—30 (33) sts.
Rnds 50 and 51: Work even in Stockinette st.
Rnd 52: K0 (k1) *k2tog; rep from * around—15 (17) sts.
Rnds 53 and 54: Work even in Stockinette st.
Rnd 55: K1, *k2tog; rep from * around—8 (9) sts.
Cut yarn and thread tail through rem sts. Pull tight to gather.
Using yarn needle, weave in ends.