I make these all the time for bridal showers, but I never record them anywhere, and I have to go searching for the right poem every time! This time, I am making a project I can go back to again and again, I hope!

Any dishcloth pattern is suitable, and I used cheap ribbons to hold them together. For this project, I did the cloths in alternating diagonal lace patterns (one in k2tog, yo; the other in yo, ssk), so the “legs” would mirror each other.
(see end of details for details)

Poem:
Now don’t get excited,
Don’t be misled.
These aren’t for you,
But your dishes instead.

Just pull on the bow,
Take out the stitches,
You’ve gained two dishcloths,
But, you’ve just lost your britches.

Alternate poem:
Now don’t be embarrassed, and don’t be misled,
These aren’t for, you but your kitchen instead.
So, when you’ve read this
And heard many good wishes,
Just rip out the ribbons
And go wash the dishes

One more alternate (religious):
These are but a pair of britches,
Not that great if you ask me -
But just like God’s promises,
There’s so much more to see.
So out with the stitches,
And untie the strings,
Now you have 2 dishcloths -
God sure changes things!

Oooh! I found another!:
These are Dishcloth Dungarees (Bathtime Bloomers),
And here’s a little clue…
When you remove the ribbons,
You’ll find a surprise…or two…
A pair of cotton dishcloths (washcloths),
That I made just for you!

01-17-12
I’ve had a request for the pattern I used on the cloths, so here is my best guess…I gifted these, but going by the picture, this is what I think I did:

Cast on 39 or 41 sts (always an odd #)
Knit 6 rows.
Start pattern rows for cloth 1:
Row 1 - K4, k2tog, yo, rep from until 5 sts remain, K5
Rows 2 & 4 - K4, purl to last 4 sts, K4
Row 3 - K5, yo, k2tog, rep from until 4 sts remain, K4
Repeat these 4 rows until cloth is nearly square, then knit 6 rows for garter edge, bind off.

Pattern rows for cloth 2 (mirror image):
Start as for cloth one, with garter edge of 6 rows
Row 1 - K4, ssk, yo, rep from until 5 sts remain, K5
Rows 2 & 4 - K4, purl to last 4 sts, K4
Row 3 - K5, yo, ssk, rep from until 4 sts remain, K4
Repeat these 4 rows until cloth is nearly square, then knit 6 rows for garter edge, bind off.