A heavily modified version of the pattern - I revised the chart to remove the serifs and worked at a much tighter gauge.

I used less than 50 g of each colour (amounts listed are approximate based on full balls, but I think some were part balls).

Pattern notes
Suggested needle sizes: 3 and 3.5 mm

Gauge 25 sts and 32 rows to 10 cm on larger needles.

Using smaller needles and CC1, cast on 126 sts.
Row 1 (RS): K2, *p2, k2; rep from * to end.
Row 2 (WS): P2, *k2, p2; rep from * to end.
Rep Rows 1 and 2 three more times, then work Row 1 once more.
Next row: Purl.

Change to larger needles and MC.
Work 4 rows in stocking stitch.

Chart placement row (RS): K33, pm, work 60 sts from chart, pm, k33.

Work a further 42 rows in stocking stitch, working the chart between markers.

Remove all markers and continue in MC only.

Next row: Purl.

Decrease rows
Row 1: *K7, k2tog, pm; rep from * to end.
Row 2: Purl.
Row 3: *K to 2 sts before m, k2tog; rep from * to end.
Row 4: Purl.
Rep Rows 3 and 4 five more times.
Next row: K2tog to end. 14 sts

Break yarn and draw end through stitches to fasten. Join back seam using mattress stitch. Weave in all ends.

Disclaimer: I mislaid my notes between knitting the project and writing these pattern notes. If there are any mistakes, please let me know and I will do my best to correct them.