Fancy slip stitch rib is made up of 3-stitches knit columns and 2-stitches purl columns (K3 x P2). On the right side, we can see that the middle stitch of the knit row is slightly longer and tighter than the other two. This is dued to the effect of the slipping method.This rib pattern produce a nice and snuggle result. It seems to me that this would be a great pattern for making socks.
Multiple of 5 + 2
Row 1 (right side): P2, *k1, sl 1, purlwise, k1, p2; rep from * to end.
Row 2: K2, *p3, k2; rep from * to end.
Repeat these 2 row to for Fancy Slip Stitch Rib.
So, that's all to it. I hope you give it a try!