Wonderful Insertion from the Ladies' Guide to to Elegant Lace Patterns, Etc 1884. Updated versions of the edging, quilt and tidy patterns from the book can be found at http://www.knitting-and.com/ladies-guide/index.html
Compare to the original version of Wonderful Insertion and to version 2. See also this Ravelry post.
Shown with a cast-on count of 30 stitches.