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When I put the pin in it and turned it to the side a bit, the scalloped edge naturally folded over, making an automatic collar that I think I like. So, I chalk up the wrap/warp as a success. It may become a Christmas gift for a sister or niece.
Here is the pattern:
Cast on 105 stitches (or something suitable for the yarn you have)
First 12-row sequence:
Odd rows: knit
Even rows: knit up to 8 stitches to end. Slip stitch, K, Pass slipped stitch over, (YO, Slip stitch, K, Pass slipped stitch over) repeat three times
On the 12th row, after finishing the pattern, cast on 6 stitches.
Repeat this 12-row pattern and for half of your yarn (I had ten balls, so I did this until 5 were used and I had 16 points on the scalloped edge).
Knit one row.
For the other half, a 12-row sequence:
Odd rows: knit up to 5 stitches to end. YO, knit two together. Repeat once. YO. Knit one.
Even rows: knit
For the 12th row of this 12-row set, cast off 6 stitches pearl wise and knit remaining stitches.
For the final 12th row, cast off all stitches pearl wise.