
Not a great photo, but the only one I have. You can't really tell but it's a bit slouchy. It has a cute little rolled edge, as well as ribbing to keep it snugly in place.
Worsted Yarn
5mm circulars/DPNS
21 sts=4"
On circular needles, CO 96 sts
knit 4 rows
work 8 rows k1p1 rib
*K8, yo* to end of round.
K for 6" (knit more or less for more or less slouch)
*k18, pm* to end of round.
Decreases
round 1: *K2tog, K to 2 sts before next marker, K2Tog, slip marker* to end of round
round 2: Knit around
Repeat decrease rounds until 24 sts remain. Cut yarn, leaving a long tail. Thread yarn tail through remaining live stitches and pull tight. Weave In ends securely.
Decorate as you please. I crocheted a chain in a contrasting colour and wove it through the YOs.