You will need:
7 different colours of double knit yarn. I used the following:
Gold yellow.
Light yellow.
Light pink.
Rose pink.
Light green.
Dark green.
Red.
Knitting needles size 4.5mm (UK 7. US 7).
Yellow yarn pom pom.
Method:
Cast on 30 stitches using gold yellow yarn.
Knit 8 rows with the gold yellow yarn.
Knit 8 rows with light yellow.
Knit 8 rows light pink.
Knit 8 rows rose pink.
Knit 8 rows light green.
Knit 8 rows dark green.
Knit 8 rows red.
Shape the top.
K2tog to the end of the row. You should now have 15 stitches.
Knit the next row.
K1, K2tog to the end of the row. (10 stitches).
Bind off.
Make two of these.
Sew the tea cosy:
With right sides together use yarn and a knitters needle to sew the side seams. Make sure to match the stripes. Start at the top and sew down 7.5cm (3 inches). Leave a gap. Sew up 2.5cm (1 inch) from the bottom of the seam. This leaves a gap in the side seam for the teapot spout and handle. Sew both side seams the same.
Sew the top of the tea cosy together.
Turn the tea cosy right sides out.
Sew a yellow pom pom on the top.