You will often find this stitch in lace or when there is a need for a little decoration.
It is mainly knit on 1*1 ribs as here in the Ho Oden Shawl or on 2*2 ribs.
It can be done with a multiple of 2 sts + 1 or with a multiple of 4 sts + 2.
How to knit smocking stitch?
Put your working thread on the front.
Then slip the required number of stitches on a cable needle.
Wrap these stitches twice or three times with the yarn as in the video below making sure that your wraps aren't too tight.
Then, work these stitches from the cable needle as required (1*1 or 2*2 ribs).