Part One: A Two-colour cast-on
Erratum: At 2:11 I say something ridiculous about a "blue loop". I actually meant a red loop/stitch on the needle. :P
Part Two: Knitting a Two-colour I-cord
Part Three: Lifeline and I-cord increase
Part Four: Setting up the stitches on DPNs
Errors in part four: I kept blathering about "4 colours" when obviously there are only 2 colours. I probably meant to say "4 stitches on each needle".