Felted pencil holder from FC Easy Knitting -- HELP!

I am making the felted pencil holder from FC easy knitting. It has a scalloped edge, made of i cord. I cannot understand how it works. Here are the instructions: With dp needle and a double strand of C, cast on 5 sts. Slip 5 sts purlwise and one at a time to 2nd dp needle. With working yarn at back, K5. *** Slip sts purlwise and one at a time to circular needle. To begin to work i cord bind off, with working yarn at back and dp needle, k4, knit next 2 sts tog (1 st from dp needle; 1 st from circular needle). Rep from *** to marker. With dp needles, k 9 rows as est on the 5 i cord sts ****. Rep from *** to **** around until all sts from circular needle have been bound off. Bind off I cord sts. Weave end of I cord to beginning of i cord.
I hope it is okay that I posted this part of the pattern. I just can’t figure out how it works… :?? :wall:

:doh: I got it figured out…It was just confusing at first! :doh:

They sure know how to make it confusing.

I take it you have stitches on your circular needle already?

Cast on 5 st to a dpn and knit one row of those stitches onto a second dpn.

Then you slip them onto your circular needle. Knit 4, k2tog.

Slip them back onto your circ and do it again, and again

I THINK this is what they mean.

Yeah, that’s what they mean… :doh: Thanks anyways! :wink: