I have been knitting a lot of jewelry during the warmer months. It's a different change of pace from knitting garments, but I enjoy creating my own pieces of bling. Below are the details.
Get the pattern here: http://www.ravelry.com/patterns/library/galatea
This is all one string piece. There is a loop on one end that the string pendant goes through. I used fingering sock yarn and a lot of size 6 seed beads. Rather than string the bead beforehand, per the pattern, they are added on the loop you are working with with a crochet hook. The main body is an i-cord. It's slow knitting project, but you get nice results.
You can buy the pattern over on Ravelry at http://www.ravelry.com/patterns/library/galatea.