K5B (Knit the 5th st below): Sl the next st off LH needle and drop 4 rows down. Place the four dropped sts and the 5th row st onto LH needle and k all 5 sts.
Rows 1-4 Work in St st, starting with a k row.
Row 5 K3, *K5B, k3; rep from * to end.
Rows 6-10 Work in St st, starting with a p row.
Row 11 K1, *K5B, k3; rep from * to last 2 sts, K5B, k1.
Row 12 Purl.
The bag is pretty easy to figure out on your own from there...
Thank you so much for the stitch tut but I have to ask if it's missing a decrease or two- my swatch keeps getting bigger and bigger (from 14 stitches to 62 in just 12 rows). Maybe I'm doing something wrong. .