The Picot Edge Bindoff is a lovely and decorative way to finish your patterns. It’s also great for collars and cuffs, if you’re afraid you won’t bind off loosely enough.
At Windswept Designs, we use the Picot Edge Bindoff with the following repetition: Cast on 2, bindoff 5.
Not making much sense? Here are some tutorials you may find helpful:
http://knitting.about.com/od/learntoknit/ss/picot-bindoff.htm