From Lace Style:

Evelyn A. Clark nearly always has a pair of socks on her needles. And a good number of those socks include a lace pattern along the leg and top of the foot. In this pair, she worked a small scalloped lace border that evolves into columns of little lace flowers. The simple stitch pattern, which she discovered in a Burda pattern book, repeats over eight rounds, five of which are knit-one-purl-one ribs that provide elasticity for a snug fit. Knitted in a silk blend sock yarn, these anklets are dressy and durable.