Los Pequeñeos Relojes de Arena

Little Hour Glass Ribbing (in the round multiples of 4 sts):
Rnd 1: *K2, p2,* repeat from * to * around.
Rnd 2: *K2tog tbl without removing them from left needle, then k the same 2 sts tog tfl, p2,* repeat from * to * around.
Rnd 3: *K1, yfwd, k1, p2,* repeat from * to * around (increases total stitch number temporarily).
Rnd 4: *Wyib sl 1 p-wise, k1, psso, k1, p2,* repeat from * to * around (stitch number returns to normal).