Here is a quick gift knitted up in Illimani Yarn's Cadena I. This is a super bulky yarn with a chain ply construction, consisting of 71.5% baby alpaca and 28.5% royal merino. You can customize the size and cost of your project based on the number of skeins you use. I chose to go all out and used five skeins for the project shown. $21/skein = $105 total project cost. This is worked on a 10mm knitting needle.
Cast on 32sts
Row 1: slip 1, (yo, k2tog) repeat to one stitch before end, k1
Repeat this row until desired length is reached and bind off. Sew together bind off and cast on edge. Weave in ends.
You can also follow a similar pattern on Illimani's website