July, 2013
As per the request of several knitters, a detailed step-by-step photo instruction on the assembly is added.
Hope it helps! :)

May 11, 2012 Erratum Update:
On the 1st increase row, it should be “k to last 1 st, m1, k1”, instead of “k to last 2st, m1, k1”

Jan. 13, 2010 Errata Update:
Under TOE SECTION, the 3rd sentence should be “Rep these 8 rows 3 more times, and work the 4rows of st st in contrasting colors once more.” instead of “Rep these 2 rows 3 more times,”

I’ve noticed that there are couple of other versions of patterns of these baby shoes on Ravelry in slightly different gauges.
I’m posting a link to my version of the pattern that I had on my blog as well, so that you don’t need to calculate the number of sts and rows. :D
Other difference is that I made the heel part round up a little bit, so that it won’t be pointy.

I made this pattern based the pictures of the FO’s on Ravelry(Babystøvler), so it may be different from the original.