This pattern could be adapted for circular knitting by knitting the even number rows rather than purling them.
Adapted from the Estonian language book Pitsilised Koekirjad; Lehismets, L.; Tallinn, Valgus 1978
Repeat rows 1 - 12
Row #SideBegin RowRepeatRepeat From *End Row
1Rk1*k1, (yo, ssk, k2-tog, yo) twice, k1*k1
2W*(p1, k1) in the double yarn over loops; purl all the other stitches an yarn overs* 
3Rk1*k2, yo, ssk, k2, k2-tog, yo, k2*k1
4W*purl* 
5Rk1*yo, ssk, k1, yo, ssk, k2-tog, yo, k1, k2-tog, yo*k1
6W*(p1, k1) in the double yarn over loops; purl all the other stitches an yarn overs* 
7Rk1*yo, ssk, k2-tog, yo, k2, yo, ssk, k2-tog, yo*k1
8W*(p1, k1) in the double yarn over loops; purl all the other stitches an yarn overs* 
9Rk1*k1, k2-tog, yo, k4, yo, ssk, k1*k1
10W*purl* 
11Rk1*k2-tog, yo, k1, k2-tog, yo twice, ssk, k1, yo, ssk*k1
12W*(p1, k1) in the double yarn over loops; purl all the other stitches an yarn overs* 
  Additional Instructions and Notes
sskslip, slip, knit
k2-togknit two stitches together
yoyarn over
k or pknit on right side rows; purl on wrong side rows
p or kpurl on right side rows; knit on wrong side rows
Row: 12  
  Row: 11
Row: 10  
  Row: 9
Row: 8  
  Row: 7
Row: 6  
  Row: 5
Row: 4  
  Row: 3
Row: 2  
  Row: 1
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