Foundation, color A - Ch4, sl st in 1st ch to join.
Rnd 1 - Ch2 (not counted as a st), 12dc into ring, sl st into 1st dc to join. [12dc]
Rnd 2 - Ch2 (counts as a dc), 1dc in same st as ch2, 2dc in each st, sl st into ch2 to join. [24dc]
Rnd 3 - Ch2 (counts as dc), 1dc in same st as ch2, 1dc in next st, *2dc in next st, 1 dc in next, rpt from * 11 more times, sl st into ch2 to join. [36dc]
Rnd 4, color B - Sl st color B into any st and ch2 (counts as a dc), 1dc in next st, (2tr, ch1, 2tr) in next st, 1dc in next 2-sts, 1hdc in next 4-sts, * 1dc in next 2-sts, (2tr, ch1, 2tr) in next st, 1dc in next 2-sts, 1hdc in next 4-sts, rpt from * 2 more times, sl st into top of ch-2 to join. [48sts and 4 x ch-1 sps]
Rnd 5 - Ch2 (counts as dc), 1dc in next 3-sts, (2dc, ch1, 2dc) in ch-1 sp, * 1dc in next 12-sts, (2dc, ch1, 2dc) in ch-1 sp, rpt from * 2 more times, 1dc in next 8-sts, sl st into ch-2 to join, ch1, cut yarn and fasten off. [64st and 4x ch-1 sps]