An excellent pattern by Phoenixknits. I knit in the round as much as possible, that’s why the body and the head are in only one piece instead of two.
I also knitted the peplum sideway to avoid to have many ends to wave.
What I did :
Cast on 5 stitches and make 2 rows. For the points, on 6 rows.
Row 1 : knit 5 sts, cast on 6 sts (11 sts).
Row 2 : purl
Row 3 : knit 10 sts, inc 1 (12 sts).
Row 4 : purl
Row 5 : knit to the 2 last, k2tog (11 sts).
Row 6 : cast off the 6 first sts, purl 5 (5 sts).
Make these 6 rows as many points you need to make the peplum, I made 11, but 10 might have been enough. Cast off.