The Bullion Knot can be used for many things, but the most common use in smocking is the Bullion Bud and the Bullion Rose. The Bullion Bud is an elegant alternative to the Flowerette.

This stitch is usually worked in two shades of the same color. Start with the darker color, and make an 8-Wrap Bullion Knot across two pleats (Step 1). Now switch to the lighter shade. With the start and end points of the stitch in line with the first stitch, make a 12-wrap Bullion Knot across 4 pleats (Step 2). The knot should curl slightly above the first knot. Finally, make another 12-wrap Bullion Knot in the same start and endpoints, this time curling under the first knot (Step 3).