From the Stitch Description: This striking pattern is a form of Chevron Fantastic, traversed by horizontal welts. Although the welts are worked straight across, the chevron formation of the background causes them to wave up and down, following the alternate bias of the stitches. In this case the welts are worked in Garter Stitch. They may be done as plain purl welts simply by purling instead of knitting Rows 2 and 4 on the right side of the fabric; but this is somewhat less successful. Plain purl welts more than three rows wide tend to be loose, and roll up too much; welts worked in Garter Stitch are trimmer and give a more manageable fabric.
Location of Stitch: Page 143 from A Treasury of Knitting Patterns.