From Knitting New Scarves:

I came up with the idea for this scarf while playing with some knitted I-cord—weaving it just seemed a natural thing to do. In the scarf shown, four dark gray warp cords are woven together with a single lighter gray weft cord. The weaving part can feel a bit unwieldy while you’re doing it but once all the cords are in place, clear elastic cord secures it all together into a soft loose fabric. If you made little potholders on a loom when you were a kid, then you already understand the simple over and under process of weaving.

Requires two US 9 and two US 10 1/2 double-pointed needles. Also requires tapestry needle, and one spool of .5 mm clear elastic cord.