German Pattern of Open Double Knitting

Materials
DK weight wool in 5 contrasting colours.
Suggested colours are:
claret
gold
blue
white
scarlet
Gauge
22sts to 10cm/4″ in pattern stitch
Abbreviations
P – purl
P2tog – purl two together
Sl1 – slip one
YO – yarn over – bring the yarn over the top of the right hand needle and wind it around the needle. Your yarn will be at the back of the work again, as if you were going to knit the next stitch.
Yb – yarn back. Take the yarn to the back of the work between the needles (as if you were going to knit the next stitch)
Pattern
Work in stripes of 4 rows each
Note: when slipping the yarn overs from the previous row, make sure you do not twist them.
Cast on 71 stitches
Setup row: *P1, yo, slip 1 knitways; repeat to last stitch, p1
Now work every row as follows: *P2tog, yb, yo, slip 1 knitwise; repeat from * to last stitch, p1
When you have worked 6 stripes of each colour (a total of 120 rows), cast off in pattern.
Work fringe number 2 in claret, and put in two lengths of each colour in the fringe.
Block the main piece of knitting and sew the fringe around all four edges.