It is reminding me of the stitch used in this hat (ravelry link)
Actually, I just finished the girly version of that hat (Amanda hat pattern) and looking at my hat, I think if you skipped the first yos, you'd be pretty close, assuming the right side of the pic is the cast off edge.
So, I would try: (*psso = pass slipped stitch over BOTH the knit and the yarn over)
cast on even # of stitches, knit one row
row 1 slip, knit, yo, psso*; repeat to end
row 2 purl to end
repeat these 2 rows!