This is a very simple stitch that is very similar to stitch nine. I despise stitch nine, but this one accomplishes the same look without all of the frustration. I don't think I will use this stitch again, not because it is bad, but because there are so many other stitches that are good. It is a very average stitch: it is not particularly fast or slow, nor is it particularly easy or hard. It has nothing distinctive about it. This stitch could be used for scarves or afghans or just about anything, I got bored with it just doing this baby blanket, so I wouldn't use it for something big, but you could.
Anyway, here's how to make it:
Chain 90, then work stitch until work is square. Add my standard border and you're finished.
Round 1: sc around, 3 sc in each corner
Round 2: dc around, 5 dc in each corner
Round 3: sc around, 3 sc in each corner
Round 4: (sc, ch 3, sk 1) around, (sc, ch 3, sc in same stitch) at corner
I made this using Bernat Baby Peach Blossom and a J hook.