Pennant Pleating - knitting in the round
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Round 1: * knit 2, purl 2, knit 6; repeat from * to end of round.
Round 2: * knit 2, purl 3, knit 5; repeat from * to end.
Round 3: * knit 2, purl 4, knit 4; repeat from * to end.
Round 4: * knit 2, purl 5, knit 3; repeat from * to end.
Round 5: * knit 2, purl 6, knit 2; repeat from * to end.
Round 6: * knit 2, purl 7, knit 1; repeat from * to end.
Round 7: * knit 2, purl 8, repeat from * to end.
Round 8: * knit 2, purl 7, knit 1; repeat from * to end.
Round 9: * knit 2, purl 6, knit 2; repeat from * to end.
Round 10: * knit 2, purl 5, knit 3; repeat from * to end.
Round 11: * knit 2, purl 4, knit 4; repeat from * to end.
Round 12: * knit 2, purl 3, knit 5; repeat from * to end.
Repeat Rounds 1 - 12.