I recently (by recently, I mean about a month ago..) found this really awesome and fun DIY over on Design Sponge.
It incorporates both knitting and jewelry creation!
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The instructions are very clear and concise. If you are a beginner at knitting, I really think this is the DIY project for you. It looks perfect for a gift for a friend, as well. Definitely had to share this one.
Feel free to check it out and tell them IamArtsyFartsy sent you!
I am definitely planning on trying this out soon!