This is Coronet, by Alexandra Virgiel, as featured in Knitty. Knit on size eight 16″ circulars in Galway Highland Heather in Burgundy (746).
A fun and surprisingly quick knit – it took me about four days of casual here and there knitting to finish the band, and then just two days of casual here and there to finish the crown. I love the design – the cabled braid is fun to knit, and picking up stitches to knit the crown in the round is nifty. I sort of wish my selvedges were better – I think that this could have looked a little nicer if my selvedges were top-notch. I haven’t blocked this yet so it might all even out in the wash. We’ll see.