Gauge: About 3 sts/1 (stitch gauge is looser than normal for worsted so that the piece is light)
Cast on 62 stitches. Do K1, P1 ribbing for 2 inches. Place marker every 31 stitches (2 markers). Knit 2 rows.
Increase Rounds:
Round 1: Knit, increase (use M1) one stitch before each marker.
Repeat Round 1 (adding 2 sts per round) for one inch.
NOTE: The markers indicate the shoulders seams on the capelet.
Decorative Increase Rounds:
Round 1: Knit to 1st st before marker, YO, K1, place marker into this center K1 st, YO*, knit to end of round, repeat from *.
Round 2: Knit around.
Round 3: Knit up to marked st, YO, K the marked st, YO (always knitting into the marked stitch, with a yarn over on each side).
Repeat Rounds 2 and 3 until capelet measures 10, and then knit without increasing until desired length (ours was about 14).
Optional Crochet Edging Before Fringe: Double crochet into each stitch for 2 rounds.
Fringe each stitch. Thread silk ribbons through the holes created by yarnovers, matching each one across the center stitch and tie into little bows.