I was wondering if any one can explain this stitch... (
How many stitches are you working on?
If I know how many stitches in each repeat of the pattern I can test a sample for you.
Also, what are you making?
I didn't wait for your reply but worked out the pattern.
On Row2, you are simply working the YO, from the previous row, as a Purl Stitch.
You don't really need to go through the trouble of putting the stitch onto the left hand needle, you can simply Purl it where it is.
Row1 reduces the row by half, excluding the P2 at each end, and Row2 takes it back to the correct number of stitches.
Hope this makes sense.
Found the pattern you may be using and notice the picture shows mostly the inside of the stitch rather than the outside.
It is very pretty and I have worked out a slightly easier way to do it, which looks exactly the same.
Instead of SL1, K1, PSS and YO over the K1, I simply worked K2TOG TBL then Pass YO over.
When you do Row2, pick up the YO from the back of the work and purl it.
Saves putting the stitch onto the left needle.
I have also tried lots of variations of this stitch for some interesting results.