What is it?
Using a long circular to knit small diameter things by pulling out the cable on two sides to make loops. On this page under small diameter knitting is a vid- http://www.knittinghelp.com/knitting/advanced_techniques/
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Magic Loop is a method people sometimes use to knit small circumference items when they don’t want to use DPNs (double pointed needles). If you do a Google search and/or forum search you will see lots of info about it.
Magic Loop instructions
Magic Loop video - scroll down
A ready-made excuse to buy those Addi Turbos/KP Options you know you really want. :happydance: