Here is the pattern of my own devices.

Guage=14 st and 16 rows = 4 inches

CO 54 st on dpns.

Knit one round
Purl one round
Knit one round

Begin pattern of choice, I used the small mock brocade pleats (#61) from Vogue knitting Stitchionary vol. 1 with some ribbing on the edges to help it fit snugly.

Work in pattern for 10 inches (7 repeats of my pattern)

To shape top of cozy (you can’t shape it too small or you won’t be able to slip it onto bottle)
next row: decrease 6 st evenly in pattern
work one row even
next row: decrease 6 st evenly in pattern (42 st)
work one row even

Switch to ribbing for three inches.

Bind off the first half of stitches (21 st)

work remaining 21 st for an additional 5 inches (to make a flap to fold over top).

Bind off remaining sts. stitch up bottom edge leaving a cap for the tab and weave in ends