I happen to think this necklace is awesome! Lucky for us, I just found the tutorial on the Burda Style Magazine website! Wooohooo! Who's gonna make one with me?
Step 1 You need: scissors, 2 balls of self-striping yarn, tubular silver lurex band, grosgrain/petersham ribbon, sewing thread, needle, straight pin, silver chain
Step 2 Pull layers of various thickness off each ball of yarn, lay them in loops, and cut them off – repeating until all of the yarn has been used up.
Step 3 Twist each loop until it twists back on itself in a tight bunch. Pin the twists on the back to prevent them from coming undone.
Step 4 Lay the twisted yarn bunches next to one another in the form of your necklace, then sew them together. Weave the silver chain in and out of the yarn bunches.