This is Ribbons by Sasha Kagan. It's in Jand S jumperweight, a yarn which holds layers of memories for me.
I first met it in Whitby, in a shop called "The Shepherd's Purse". I'll never forget the impact of seeing, in effect, the whole shade card range in skeins hanging from a line across the shop. On that occasion, I bought navy and three shades of mauve for a a striped sweater. That would have been in the early 80s.
Sasha Kagan's book was published in 84 and I must have bought it soon after. The yarn for this was bought in the now defunct but much mentioned "Art Needlework Industries" shop in Oxford, again a treaure house of colour and texture.
Sadly, when I visited the actual premises of J and S in Lerwick I was very disappointed. This was in 2000, so it may have changed since. It was as if Kaffe had never existed; in fact, the view seemed to be that his technique, presumably of darning in the ends, was not up to snuff. But what of his technique of using colour in surprising and pleasing ways? The whole place seemed to be stuck somewhere about 1958. Very sad.