I got this pattern (in the oral tradition) from my SIL. It's very easy, very fun (mindless) and turns out reallllly pretty.
Cast on in any multiple of 8 (I cast on 160).
Work in seed stitch (k1, p1/p1, k1) for 8 rows.
The first 8 stitches and the last 8 stitches of each row should be done in Seed Stitch (see above).
Row 9-16: (after 8 stitches of seed stitch) *K8, P8 - repeat from * to final 8 stitches which you will work in seed stitch. Continue in this pattern for 8 rows.
Row 17-24: (after 8 stitches of seed stitch) *P8, K8 - repeat from * to final 8 stitches which you will work in seed stitch. Continue this pattern for 8 rows.
Repeat patterns listed above until desired size. This creates a basketweave pattern. Finish the last 8 rows in seed stitch.
edited to correct the pattern to read the first 8 stitches should also be in seed stitch. Thank you Buddha_Mom for pointing out that error!