Simple Stretchy Bind Off

So simple, and so stretchy! This is my new favorite bind-off, good to use whether you need a little or a lot of stretch. A good matching cast-on is the German Twisted CO, video here:
http://youtu.be/UcwmCuIylII

Instructions for working this BO in 2x2 rib:
Step 1: K 2 stitches, insert the left needle into the front of the two stitches you just worked, wrap the back needle and knit them together (k2tog tbl)
Step 2: P 1 stitch, Insert left needle into the back of the two stitches you just worked, wrap the front needle and purl them together (p2tog)
Step 3: Repeat Step 2
Step 4: K 1 stitch, insert the left needle into the front of the two stitches you just worked, wrap the back needle and knit them together (k2tog tbl)
Step 5: Repeat Step 4
Repeat Steps 2 through 5

Instructions for working this stitch in any other stitch combination:
K every knit stitch, and k2tog tbl it with the other stitch on the right needle
P every purl stitch, and p2tog it with the other stitch on the right needle

Information on things you’ll see in this video:
The shawl I’m wearing (not my design) can be found here:
http://www.ravelry.com/projects/verypink/pendulum

The needles I use are Knitter’s Pride Bamboo DPNs:
http://astore.amazon.com/verypinkcom-20/detail/B00FGF1V20

The bulky yarn I used is Knit Picks Wool of the Andes Bulky in colors Crush, Yonder, and Honey:
http://www.knitpicks.com/yarns/Wool_of_the_Andes_Bulky_Yarn__D5420155.html

The nail polish I’m wearing is by Julep, color "London".
http://refer.julep.com/s/stacip