Cast on 136sts and joined to knit in round (gauge 11.5sts x 17rows in stockinette = 2”x2”). K2P2 ribbing for 1.25”. Knit until piece measured 4.25” from CO edge. Placed stitch markers every 34 sts to mark decreases: knit to 2 sts before first stitch marker, k2tog, sm; knit to with 2 sts of next marker, k2tog, sm; and continue. Continue with decreases as established until 8 sts remain. Break yarn and pull through the 8 sts twice and pull tight. Weave in ends.
This cap has no fold-up allowance and should fit to just cover the ears.