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Firstly, the Waffle Check Pattern is a great introduction into color-work patterns. In fact, it is a color-change, slip-stitch pattern, which means that you only knit with one color at the time.
Furthermore, there are many variations of the waffle check pattern. However, in this version, the stitch pattern has a garter-stitch basis. Consequently, the fabric has quite a nubby texture.
Actually, as the reverse side of the fabric is quite nubby as well, this stitch pattern is great for making dishcloths.
Consequently, the stitch pattern is knitted over 8 rows. However, you can easily adapt the stitch pattern by just repeating only rows 1 to 4. This change will align the checks vertically instead of alternating them.
In fact, the Waffle Pattern is identical to the Pin Check Pattern, with the exception of rows 1 and 5. It is surprising how this slight change can give quite a different texture.
Likewise, if you would like to try out the Pin Check Pattern as well, you can find it here: Pin Check Pattern.
In addition, if you want to learn more about slipping stitches, you can find our step-by-step tutorial here: Slipping Stitches Knitwise or Purlwise
Finally, mosaic knitting is a great way to create color-change patterns without having to learn stranded knitting. In conclusion, we have a very comprehensive article about this that you can find here: All You Need to Know About Mosaic Knitting.

Techniques Needed for the Waffle Check Pattern
Abbreviation Description Tutorial
k knit Knit Stitch Continental Style
Knit Stitch English Style
p purl Purl Stitch Continental Style
Purl Stitch English Style
Other Abbreviations Used
ws wrong side
rs right side
rep repeat
st(s) stitch(es)
wyif with yarn in front
wyib with yarn in back
Instructions (Knitted Flat)
Odd number of sts. Colors A and B
Row 1 (WS) – With A, knit
Row 2 – With B, k1, * sl 1 wyib, k1; rep from *
Row 3 – With B, k1, * sl 1 wyif, k1; rep from *
Row 4 – With A, knit
Row 5 – With A, knit
Row 6 – With B, k2, * sl 1 wyib, k1; rep from *, end k1
Row 7 – With B, k2, * sl 1 wyif, k1; rep from *, end k1
Row 8 – With A, knit
Repeat rows 1-8 until the desired length has been reached.