(This sounds wordy, but try it with yarn and
needles in hand. It really does work.) Knit the first two stitches as usual and pull the first stitch over the second stitch,
leave that second stitch on the left needle.
Knit the next stitch on the left needle and slip both stitches (2 and 3) off the left
There are now two stitches on the right needle. Pull the first stitch over the second stitch
placing the bottom of the second stitch on the left needle.
Knit the next stitch on the left needle and continue in this manner until
two stitches remain. Knit those two stitches together.
This produces a chain-stitched edge that is looser than a traditional bind off.
3) Bind Off using Elastic Method 2:
Bind Off as usual, knitting into the front and back of each stitch.
This method results in two bound off stitches for each stitch on the left needle.
This produces a slightly ruffled edge with great elasticity.