With A, loosely cast on 40 sts. Divide sts onto 4 needles, with 10 sts on each needle. Place marker for beg of rnd. Join by working the first st on left hand needle with the working yarn from the right hand needle and being careful not to twist sts.
Rnd 1: *K2, p2; rep from * to end of rnd.
Change to B.
Rnds 2-5: With B, rep Rnd 1 four times.
Change to St st worked in the rnd (k every rnd).
Rnd 6: With B, k to end of rnd.
Rnd 7: With A, k to end of rnd.
Rnd 8: Slip first st, then with A, k to end of rnd.
Rnd 9: With B, k to end of rnd.
Rnd 10: Slip first st, then with B, k to end of rnd.
Rnds 11-13: With B, knit.
Repeat Rnds 7-13 twice more.
Next Rnd: With B, *k2tog; rep from * to end of rnd - 20 sts remain.
Cut yarn, leaving a long tail. Thread tail through remaining sts and pull to gather. Knot securely.
Weave in ends.