Do you want to run a tie through it or something like that? You know, something separate? I'm only thinking that it will mess up the ribbing pattern if you want to do it in ribbing.
What I would do is do a row or two in stockinette stitch, then do a row of k2tog, yo and then more sockinette. Maybe purl one row, eyelet row, purl one row. Or knit a row, purl a row, eyelet row, purl a row, knit a row.
You can throw in an eyelet anywhere you want by the k2tog yo or yo k2tog.