Step 1
CUFF Cast on 37 stitches loosely. Row 1 (RS) Slip 1, *p1, k1; repeat from * to end. Rows 2–12 Slipping the first stitch of every row, work 11 more rows in established rib. Eyelet Row (RS) Slip 1, *yo, k2tog; repeat from * to end. Row 14 (WS) Slip 1, purl to end. Row 15 Slip 1, k15, k2tog, knit to end — 36 stitches. Row 16 Slip 1, purl to end.
Step 2
HEEL FLAP Row 1 (RS) Slip 1, k8, transfer these 9 stitches to waste yarn or a small stitch holder; [slip 1, k1] 9 times, turn; transfer remaining 9 stitches to waste yarn or another small stitch holder — 18 flap stitches. Row 2 Slip 1, p17. Working flap stitches only, repeat [Rows 1 and 2] 9 times — 18 flap rows.
Step 3
HEEL TURN Row 1 (RS) Slip 1, k10, ssk, k1, turn, leaving 4 stitches unworked. Row 2 (WS) Slip 1, p5, p2tog, p1, turn, leaving 4 stitches unworked. Row 3 Slip 1, knit to 1 stitch before gap formed on previous row, ssk [1 stitch from each side of gap], k1, turn. Row 4 Slip 1, purl to 1 stitch before gap formed on previous row, p2tog [1 stitch from each side of gap], p1, turn. Repeat Rows 3 and 4 once more — 10 stitches.
Step 4
GUSSET Row 1 (RS) Knit to end of heel; pick up 9 stitches along the side of the flap, place marker; k9 stitches from holder. Row 2 Slip 1, purl to end of heel; pick up and purl [from the back of the stitch] 9 stitches along the side of the flap, place marker; p9 stitches from holder — 46 stitches. Row 3 Slip 1, knit to marker, k1, ssk, knit to 3 stitches before next marker, k2tog, k1, knit to end — 44 stitches. Row 4 Slip 1, purl to end. Repeat [Rows 3 and 4] 4 times — 36 stitches.
Step 5
FOOT Slipping the first stitch of every row, work even in stockinette stitch for 1", (2 1/4" from back of heel) or about 3/4" shorter than desired length.
Step 6
ROUND TOE Row 1 (RS) Slip 1, k1, k2tog, *k2, k2tog; repeat from * to end — 27 stitches. Rows 2–4 Work even. Row 5 Slip 1, k2tog, *k1, k2tog, repeat from * to end — 18 stitches. Row 6 Work even. Row 7 Slip 1, k1, *k2tog; repeat from * to end — 10 stitches. Row 8 Slip 1, purl across. Cut yarn, leaving an 18" tail. Using a yarn needle, thread tail through all stitches and pull tight. Don’t cut the yarn yet; the rest is used for seaming.
Step 7
SEAM Fold the sock with wrong sides together. Match up the slipped edge stitches and pin in place. Using the crochet hook, slip stitch knitwise from the front into each corresponding set of stitches up to the top of the cuff to close the seam. Fasten off. Weave in ends. Block as desired.
Step 8
TIES Using a crochet hook, chain two ties each about 18" long. Weave ends into chain. Thread ties through the eyelets, then tie in bows. Alternatively, you may use ribbon as ties.
Step 9

Excerpted with permission from <a href="http://www.amazon.com/gp/product/1612120083/ref=as_li_qf_sp_asin_il_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=1612120083&linkCode=as2&tag=craftfocom-20">"Knit Your Socks on Straight: A New and Inventive Technique with Just Two Needles"</a> (c) by Alice Curtis, photography (c) by Geneve Hoffman Photography, used with permission from Storey Publishing.