Make picot st holes for drawstrings

[Anastasia]

I am so confused!!!! Will someone please help me!!

The pattern says this.....
[K1, (yo, k2tog) across to last st, k1.]
Work 7 St st rows, then rep bet []s to form picot st edging.
Work 5 St st rows.
Leasving a 36" tail of yarn for finishing, thread all sts onto another 36" length of yarn.

I get it up til it says, then rep bet []s...so on so forth.

Someone please help me.
Thank you
Stasi