Fern and Faerie
has a pretty easy one that is free. You basically knit a rectangle for waistband + an inch or two, then decrease down to a point. Fold the two sides of the recangle together so that the edge is front and center, then fold the point of the triangle up to the seamed edge of the rectangular part. Sew part-way down, leave holes for the legs. Knit cuffs as desired (knit flat then seam them up as well.
DPN's/circs make soaker knitting really fun though; I'd definitely try to find some short circs and a set of DPNs for the weight of wool you like to use. (I like 3.5mm - 4mm in 16" + DPNs. Magic loop would be doable with 36" I think.)