A very simple but elegant lace rib stitch

Knitted in a multiple of 6 sts, and 2-row repeat.
Row 1: * k2tog, k1, 2yo, k1, ssk; repeat from * to end.
Row 2: * p3, p1 tbl, p2; repeat from * to end.

Knitting abbreviations:
Knit: K | Purl: P | Purl through the back loop: P tbl
Yarn over: Yo | Knit 2 sts together: K2tog | Slip slip knit: Ssk.