(aka 'The Weekend Sweater'!) 
Pattern adapted and corrected by Jennifer Cox, Beth Koskie and Beverly A. Qualheim (adaptations Copyright 2002)

UPDATED:  March 2014  -- this pattern is basically my own version at this point, as I have spent time after time, fixing errors and such.  I have ripped out, tested, retested, ripped out, re-added over and over and over this time.  For the one on my 12" Tiny Tears doll I used baby yarn and size 5 needles
(Doll/preemie sweater = 6.5" from shoulder to bottom of sweater- her bonnet pictured was made using this pattern.)
 Bev Qualheim 
  

Materials : 
4 oz. (120 g) soft, worsted weight (#4) yarn
[Ed. note: 55-75 yd/oz, 180-240 m/100g ] 
size 10-1/2  (6.5 mm) needles (full-term 7-8 lb baby), size 8  (5 mm) or size 5 (3.75 mm) needles for preemie baby sizes 
(I use baby yarn/DK yarn for preemie sizes) 

(be sure needles are at least 13" long or use circulars) 
4 stitch holders. 

Gauge with size 10.5 (6.5 mm) needles: 4 sts = 1" 5 rows = 1"

(♥ note: increase sts by "Knitting into front of stitch. Before slipping stitch off needle, place right needle behind left and knit again into back of stitch. Slip original stitch off left needle.")

Abbreviations:  K = knit, P = purl;  K2tog = knit 2 together; YO = yarn over; inc = increase; sts = stitches

Cast on 34 sts for neck edge
Note Always keep first and last 3 stitches in "knit" even on a "purl" row.  AND, to keep counts just right, BE SURE to follow directions given!

Row 1: K 
Row 2: K (34st)
Row 3: K3 *P2tog, YO. Repeat from * ending P2 tog, (Don't YO after this last "P2 tog" or your counts will be off!), then K3 (33st) 
Row 4: K (33st) 
Row 5: K3, P to last 3 sts, K3  (33st) 
Row 6: K3 *inc 1 by knitting ♥ once in the front of the stitch, then once in the back ; K1. Repeat from * ending with  and inc 1, K3 (47 st) 
Row 7: K3, P to last 3 sts, K3 
Row 8: K3 *K2tog. Repeat from * ending K4. (27 sts)
Row 9: K3 *K1, insert needle under next horizontal loop of row below (between sts) and knit this st. Repeat from * across, ending K4 (47 st) 
Row 10: K3 * inc 1 st in next st, K2. Repeat from * end inc. 1, K4 (61 sts) 
Row 11: K3, P to last 3 sts, K3 (61sts) 
Row 12: K3, *K2 tog. Repeat from * ending K4 (34 st) 
Row 13: Same as row 9. (61 st) 
Row 14: K4 ♥ *inc 1 in next st, K3. Repeat from * ending with inc. 1, K4 (75 st)  (took me 1 hour to get this far)
Row 15: K3, P to last 3 sts, K3 (75 sts) 
Row 16: K3 *K2 tog. Repeat from * ending K4 (41 st) 
Row 17: K3 *K1, insert needle under next horizontal loop of row below (between sts) and knit this st. Repeat from * across, ending K4 (75 st) 
Row 18: K4 *inc 1 in next st, K4. Repeat from * to end, ending with inc. 1, K5 (89 st) 
Row 19: K3, P to last 3 sts, K3 
Row 20: Same as row 16. (48 st) 
Row 21: Same as row 17. (89 st) 
Row 22: K5 *inc 1 in next st, K5. Repeat from * to last 5 sts-K. (103 sts) 
Row 23: K3, P to last 3 sts, K3  (103 st)
Row 24: Same as row 16. (55 st) 
Row 25:  Same as row 17. (103 st) 
Row 26:  K17 (front), inc 1 in next st, place marker (pm), inc 1 in next st, K 15 (sleeve), inc 1 in next st, pm, inc 1 in next st, K 31 (back), inc 1 in next st, pm, inc 1 in next st, K 15 (sleeve), inc 1 in next st, pm, inc 1 in next st, K17 (front) (111 st)     (keep moving markers on each row) 
Row 27:  ( this is a good place change colors.)   K3, P to last 3 sts, K3 (111 st)
Row 28:  Knit, increasing 1 st at each side of markers (119 sts) 
Row 29:  Same as row 27. 
Row 30:  Same as row 28. (127 sts) 
Row 31:  K3, P to last 3 sts, K3 
Row 32:  K21, place on holder, (remove markers as you place sts on holders.)  K 23 sleeve st and keep on needle, place rest of stitches on holders -- 39 for back, 23 for other sleeve, 21 for other front. 

Sleeve (make sure you get the sleeve and don't knit the front) 
Rows 1-16 : work in stockinette st (Knit one row, purl one row)
Row 17: K2tog *P1, K1, P1, K2tog. Repeat from *  ending with K2tog, P1.  (18 sts). 
Rows 18-22:  Work K1 P1 rib. 
Bind off loosely.  Cut 12" yarn tail for sewing arm seam.  (took me 4 hours to get this far)

<---  Remove the 23 sts for the other sleeve, and place them on needles. Work other sleeve the same as the 1st sleeve (Look at Row 26 to see which holder has the sleeve sts.)

Remaining Sweater:
With wrong side of sweater facing you, carefully open stitch holders and move the stitches from the holders to the knittng needles.  Attach yarn at underarm on right side of work and K across body (80 sts).
Work in st st keeping K3 garter border for 12 rows 
Row 13: Repeat row 16 of top of sweater, but end with k3. (43 sts)  (Right Side) 
Row 14: Repeat row 17, but end with K3. (83 sts) 
Rows 15-18: Work in st st keeping K3 garter border 
Row 19: K3, *K2tog, YO, repeat from * ending with yo, K3. (80 sts) 
Rows 20-23: Work in garter stitch (knit every row) 
Bind off loosely.

 Sew sleeve seams. Crochet a chain to thread through eyelet in top of sweater or use a pretty ribbon.

Cast on 48 st on size 10.5 (or size you used for your size sweater).

NEW Button front ADDITION

copyright 2003 Mary Cowley 
Button down front, to avoid the ties.

"I worked the pattern exactly the same EXCEPT- I added 2 stitches on  either side of the sweater so when I cast on I did 38 sts instead of the called for 34. I basically just made a k5 border instead of a k3 border. I used 5/8" diameter buttons.

I worked the button holes as follows: at the beginning of the buttonhole rows K2 tog, yo, knit 3 rem sts of border. Then the rest of row as pattern calls for. I made the button holes on rows 3, 15 and 27 of the top section of the sweater body and rows 8 and 20 of the second section. (total of 5 button holes) I didn't change any of 
the pattern except for the border, so you just need to remember to add 2 knit stitches at the beginning and 2 at the end of each row throughout the body of the sweater. Here is a picture if you want to see what it looks like (click on it for a bigger view) 

Matching Booties  (and BONNET from fiber gypsy)
Baby Booties to match the 'Weekend Sweater"

Materials: Size 10-1/2 [Ed. note: 6.5 mm]knitting needles, 4-ply (worsted weight) yarn [Ed. note: 55-75 yd/oz, 180-240 /100g]

   * Cast on 22 stitches, work K1, p1 for 3 rows to form ribbing. 
   * Row 4: Knit 
   * Row 5: Purl 
   * Row 6: (Pattern) K1, *k2tog across row to last st. *, K1. 
   * Row 7: K1, pick up stitch between and below next st, continue until  last 2 sts, K2. 
   * Row 8: Knit 
   * Row 9: Purl 
   * Row 10: Same as row 6. 
   * Row 11: Same as row 7 (this pattern row is later used to run ch thru for ties) 
   * Begin instep: Knit 7 sts, place on holder, K8 and place remaining 7 sts on another holder. (22 sts) 
   * Work the 8 sts of instep in K1 row, P1 row for 10 rows. 
   * Break yarn off at end of 10 rows. End with knit row and place the 8 sts on holder also. 
   * Pick up 7 sts on holder plus 5 sts along side of instep, 8 sts at end 
     of instep, 5 sts along other side of instep and remaining 7 sts on the 
     other holder. 
   * Work these 32 sts for six rows in a K1 row, P1 row, on 7th row bind off. 
   * Sew up bottom and back of bootie. 
   * Crochet a single chain to use as a tie for the booties, one for each. 
   * Pom Poms can be added to the end of the ties.