The website where this pattern is found suggests knitting it for a bridal party, but you might want to try it simply because it's pretty.  It's a lace pattern, but unlike the lace bag I posted a few weeks ago, the lace is worked every row.  Therefore, you should count your stitches after you complete every row.  Also, the pattern uses the abbreviation yf (yarn forward) instead of yo (yarn over).  Yf is the same as yo: bring your yarn to the front of the needle and knit the next stitch as if to create a lacy hole.  Here's the pattern (via craftstylish).
This delicate lace bracelet makes a perfect summer gift.