Abstract: A pleated knit fabric and method for forming same on a single needle bar knitting machine. The fabric is knit on a single needle bar knitting machine having at least three guide bars. A first group of yarns is formed on two of the guide bars to form a stitch group A having spaced wales with vacant needles therebetween joined by laid-in stitches extending between the spaced wales to form a base fabric. A second group of stitches forming a stitch group B is formed on the third guide bar, utilizing at least some of the vacant needles between the wales of the stitch group, said second group of stitches, group B, is joined to one of the wales of the first group of stitches, with the second group of stitches having a free portion, loose with respect to the first group of stitches so as to form a pleat-like flap.