I improvised this design using different cables from the Vogue Stitchionary 2 and used short rows to get the shape. Other advanced techniques used were grafting in pattern and tubular cast of for the ribbing.
(I didn't realize until I uploaded the pictures, but the ribbing is kind of bunched up in front here. Normally, it lies flat just as it does in the back)
In case someone wants to make something similar:
I chose three cables that all had a 12 row repeat (well, the first actuall just gets a 6 row repeat twice), then one with a 10 row repeat, one with an 8 row one and the last is the one with the 6 row repeat from the start. Before the first and after the last cable I added one purl stitch, and in between each two cables i put three purl stitches.
You can see the cables better here:
(What kind of cables one choses obviously depends on gauge and the desired width of the finished object. Depending on that, one could also use leass cables, though I would keep the identical small cables at the beginning and end. The only thing important is that the second half of the cables, where the short row shaping is used, each have two rows less per repeat)
This made it super easy to use short rows to shape the capelet, since I just knit each cable until the repeat was finished and then in the next row,I wrapped and turned over the middle of the three purl stitches before that cable. (The first three cables were knit for all 12 rows, the fourth for ten rows,the fifth for eight and the sixth for six) Then in the first row of the next repeat, all cables were knit again and so on.
While the color isn't so good here, you can see the shape better:
I used a provisional cast on and then knitted in pattern until I had a sort of demi-circle that was long enough to fit around my shoulders.(the number of repeats this takes depends on gauge and body type).
Then I finished the repeat but didn't cast off. Instead I used the live stitches from the end and grafted them to the live stitches from the provisional cast on. (It might be a good idea to practice grafting in pattern on a swatch first. Make sure to graft top to bottom, as you will be doing with the caplet.This has the added benefit of not having the half stitch of that you get when grafting top to top.)
The seam really ended up invisible:
After grafting, I picked up stitches along the neck edge. I actually picked up one stitch per row and then in the first round of ribbing, I decreased according to gauge. (For example, I had a gauge of 22 stitches/ 33 rows per 4 inches, which means 2 stitches have the same width as thre rows. This meant that in the first row of ribbing, I had to get rid of every third stitch, so I knit one, the purled two together all around. Make sure the number you end up with can be divided by four.) I worked in k1p1 ribbing for ten rounds. After that, I worked foud paired decreases evenly spaced out over the round (for a total of 8 stitches decreased.) I repeated this another 5 times, every fifth round. (Depending on gauge, number of stitches and neck width, you may have to work more or less decreases. Just make sure you use paired ones, to keep the k1p1 pattern. After that, I worked for about 5 inches in the ribbing pattern. (This gave me the folded turtle neck that I wanted. You could easily adjust for a different kind of neck).
I cast off using the tubular cast off method for a nice, clean and stretchy edge.
I used seven balls of Merino s160 from Lang Yarns (721 yards), but really, you could use whatever you want. Just make sure you have enough of it, because the cables take a lot of yarn)
I hope this was understandable, but if you would like to make one and have questions, please feel free to ask.