Here are some pictures of the work-in-progress. Admittedly they are not the best due to the constraints of my blackberry, but I think they give a good idea of what it looks like.
I used 2mm knitting needles and the Anchor Artiste BABY SOFT Crochet Cotton yarn, I tried with the metallic version and had loads of problems. In the end I did 17 repeats of the pattern - instead of the 22 suggested by the pattern, but it all depends on one's thighs (mine are definetely not small though) and the needles used. I added one more 'track' lace pattern in the middle so that I could achieve the bleu-blanc-rouge effect...
I forgot the ruban that was going to hide the elastic band, so had to improvise with what my Mum had at home. It works but it is not ideal. I had bought a silky ruban matching the colour of the yarn... It is waiting for me in England whilst I am in France - very useful!