Punto Peruano is the name of a knitting or crocheting technique from (as you could guess easily :) ) Peru.
I accidentally stumbled upon it while browsing various hobby forums and decided to try it.

I love it so far :) Finished a warm scarf from wool and acrylic yarn and knitting another one -- a spring scarf, from mercerised cotton yarn.



The technique itself looked quite complicated but only until I tried crocheting.
There is a way to do it by knitting as well -- haven't tried that yet.