Quick Mitten Pattern?

I am working on my first pair of mittens on dpns. I am beg the gusset and the pattern says to:
k1, m1, k1, m1, knit around
Does that mean I continue to follow the k1, m1 around the dpns OR
do I k1, m1, k1, m1 and then knit the rest of the stitches?

Thank-you so much!!

you don’t do the k1, m1 all the way around, just the number of times stated and then knit the rest of the round.

K1, m1 twice, then knit the rest of the sts.