I’ve never seen anything like this rosette from 1870 Mrs. Beeton’s Guide to Embroidery, Crochet and Knitting! It’s made by picking up selvage stitches on the left side of previous knitting, eventually making a 10-segment ring. A different color is then used to pick up selvage stitches on the right side of previous knitting. The rosette is completed by knitting 5 rounds for the outer edge. Mrs. Beeton recommended a tatted center for the rosette. Her tatting instructions are included and also my instructions for a crocheted center.
Multiple rosettes and tiny knitted 3D squares were sewn together and the original assembled piece was finished with fringe. Mrs. Beeton called this project “Knitted Antimacassar or Berceaunelle (cradle) Cover”. She specified violet and gray “fleecy wool” but I used white and green crochet threads. You can choose any colors and use this rosette for anything you like! In cream and tan, the rosette would look like pastry and I’d add sprinkles!

Skills needed: long-tail cast on, knit, purl, slip, knit 2 together, k3tog, knit and purl in the same stitch, knitting in the round and bind off in knit stitch. Skills for rosette center: either tatting skills or crochet chain stitch, slip stitch and single crochet.

Gauge is not important in this pattern. Any yarn/thread will work. Make a swatch to check size and appearance.

47 yards of #10 thread will make a 3” diameter medallion with crocheted center in the stated gauge:
26 yards of white thread and 21 yards of green
5 yards of #10 thread will make a 1” 3D square in the stated gauge:
2 yards of white thread and 3 yards of green