I've always been curious about this stitch, because just at a glance it looks really complicated.... but it's not at all. Basically, you are knitting two stitches together all the way across. Instead of dropping both of those stitches off the needles after knitting together, you only drop the one closest to the end. Essentially, every stitch gets knitted into twice. Each row alternates knitting through the front or back loop to create the opposite slants. In a nutshell, the pattern is very easy, but just takes twice as long as a normal cowl of its size due knitting each stitch twice.
I guess I finished it just in time too, because I came down with this nasty cold over the weekend and laid around with this cozy cowl around my neck. Even if it couldn't do anything for my symptoms, at least it lifted my spirits, right? Good thing I got the photos in before I really got knocked down - I sort of have sick eyes there, but a few hours later they were watering so much they were nearly swollen shut! I hope this post finds you in better health than me!