Beg at long side, ch 46.
Row 1 (Right Side): Sc in 2nd ch from hook and in each ch across; turn – 45 sc.
Row 2: Ch 1, hdc in first 38 sc, ch 1, skip next sc for eyelet, hdc in last 6 sc; turn.
Row 3: Ch 1, sc in back lp of first 6 sts; sc in ch-1 sp, sc in back lp of next 38 sts; turn.
Rep Rows 2 and 3 for pat until 10 1/2" from beg or the circumference of bottle plus 1/2", end by working a WS row; do not fasten off.
Seam Row: With right sides together, fold Row 1 up in front of and even with last row; insert hook through first rem lp of foundation ch AND back lp of next sc and sl st together; * insert hook through next rem lp of foundation ch AND back lp of next sc and sl st together; rep from * across; do not fasten off.
Bottom Rnd: Turn work 90 degrees so eyelets are at the bottom; ch 1, sc in seam and in each row end around; join with a sl st to first sc. Fasten off. Weave in all ends.
FINISHING–Drawstring: Ch 2; sc in second ch from hook, * ch 1, sc in front lp only of sc just made; rep from * until cord measures approximately 28". Fasten off. Weave in ends.
Weave drawstring in and out of eyelets at top of cover. Insert wine bottle and tie drawstring ends in a bow.