Sample some lace with only a small amount of yarn and stitches and get some cool socks while you're at it. These directions are more of a guide than a set pattern, so feel free to substitute.
Shown in Women's Adult Medium.
Any smooth fine sport weight or thinner yarn will work best. Crochet cottons are an excellent option. Sample worked in generic baby acrylic from stash.
1 set of needles in size appropriate to yarn weight or a couple sizes smaller.
Sharp darning needle
Elastic thread in matching color (I have had more success finding this in the beading section of major craft stores. However, make sure you get elastic thread and not elastic cord which is more like rubber)
1 pair of commercially bought or handmade socks
Coordinating ribbon (optional)
Getting a specific gauge is relatively unimportant. What matters is getting a gauge you like the look of in your chosen yarn. So if you start and don't like it, rip it out! It's only a few stitches anyway.
There are many, many lace edging patterns out there to choose from. A great resource is Knitting-and.com which contains many sample photos and patterns of different styles.
For this example I've used a simple 3 eyelet scallop with a twisted slipped stitch selvage. I would recommend using this selvage with any pattern you choose as it works well with sewing to a woven fabric. This selvage is created by slipping the first stitch knitwise (sl 1 kwise) on odd rows and knitting the last stitch on even rows.
The stitch count will change from row to row. Where it does, this is indicated at the end of the row instruction. If no number is given, the stitch count is the same as the previous row.
See chart key
Loosely cast on 7 stitches taking care to keep extra space between each cast on stitch. Follow the written directions below or work from the chart.
Row 1: Sl1 kwise, yo, p2tog, k2, yo twice, k2 (9 sts)
Row 2: Sl1 pwise, k2, p1, k2, yo, p2tog, k1
Row 3: Sl1 kwise, yo, p2tog, k6
Row 4: Sl1 pwise, k5, yo, p2tog, k1
Row 5: Sl1 kwise, yo, p2tog, k2, yo twice, k2tog, yo twice, k2 (12 sts)
Row 6: Sl1 pwise, k2, p1, k2, p1, k2, yo, p2tog, k1
Row 7: Sl1 kwise, yo, p2tog, k9
Row 8: bind off 5 sts, k3, yo, p2tog, k1 (7 sts)
Repeat until when ending row 7 you reach the circumference of your sock ankle then bind off all sts loosely. On sample, this was 8 repeats using size 5 needles and fine sport weight yarn.
Weave in yarn ends and block. Pin lace to top edge of folded over sock. Using the sharp darning needle and elastic thread, whip stitch the lace to the sock. I found this was easiest worked with the sock turned inside out and unfolded so that the lace edging is pointed up and laying in the middle of the leg portion. Add optional ribbon by tying around a yarn over strand in the top eyelet row and making a bow. Alternately, you could weave a contrasting color ribbon in and out of the eyelet row as well. Wear with some fabulous shoes and enjoy!