This is also called slip st knitting and is done [normaly] two rows of one color then two rows of a second color.
You use a grafted pattern, knit all the sts in the color you are using slipping the other sts with the yb, k or purl the second row doing the same sts.
The second color is done in the same way.
I would be glad to help with this any way I can. Don't really know what info you would like to have.