It's not working!
Yes, this is definitely going to work. And it's a 6 st repeating pattern, yay, which will fit into the Fancy Sock set-up. All I had to do was make the pattern which is written for working back and forth into a pattern for 'in the round'. This is the Quilted Lattice pattern from A Treasury of Knitting Patterns by Barbara G. Walker, pg. 102 (the blue book).
R1: *YO, K5, YO, K1;
R2: *drop the yo, SL1, K4, drop the yo, SL1;
R3-5: *SL1, K4, SL1;
R6: *drop the slipped st to front of work, K2, pick up dropped slipped st and knit it, slip next 2 sts over to Right needle, drop next slipped st to front of work, slip the 2 sts from Right needle back onto Left needle, pick up dropped st and knit it, K2;
R7: *K2, [YO, K1] twice, K2;
R8: *K2, [drop yo, SL1] twice, K2;
R9-11: *K2, SL2, K2;
R12: *slip next 2 sts over to Right needle, drop next slipped st to front of work, slip 2 sts from Right needle back onto Left needle, pick up dropped st and knit it, K2, drop next slipped st to front of work, K2, pick up dropped st and knit it;
I'm pretty sure I have this written out correctly but let me know if it's not. It's working for me.
You'll feel so adventurous when you drop those stitches and pick them up again. Risky knitting, yikes, but the yo make the slipped stitches very stable. You also have to work a YO at the beginning of each double pointed needle but don't worry if they fall off because you drop them in the next row anyway. Is that just perfect or what?!
I'm so excited to get going on this pattern. It totally fits the hand dyed wool.