This is the "Dahlia" pan-holder, one of three from the vol.3, no.3 issue of "The Workbasket" -- "Home and Needlecraft for Pleasure and Profit -- Ideas for the Bazaar, the Home, Gifts and Sparetime Moneymakers -- with Many Inexpensive, Easily Made Articles that find a Ready Sale" -- published in Kansas City, ca. 1937 (and generously made available through Antique Pattern Library). "Frost Tone thread" is vaguely suggested in the pattern, but no gauge or target size is given; I used Lily Sugar 'n Cream in two not-very-dahlia-like-but-high-contrast colors, resulting in a potholder about 9 in./23cm across. The yarn not in use is simply carried along the round underneath the working yarn, which makes for a lot fewer ends needing to be woven in, although it does mean that the carried color tends to peep through the stitches. The scalloped petal tips are made with short rows.
(Lily Frost-Tone thread looks from the photos on Ravelry to be about the weight and luster of size 3 perle cotton.)
There is a short history of "The Workbasket" magazine by Nancy B. on HubPages -- originally "Aunt Martha's Workbasket" but it seems, judging by the relative sizes on the cover of even this fairly-early issue, that most people just called it "The Workbasket". The magazine was published for an impressive 61 years, changing with the times in the types of patterns and crafts it featured, but finally ceased publication in 1996. The Antique Pattern Library has a number of issues available, mostly from the 1930s and 40s.
