Why yes, yes it is! Proof is shown above and below. Mrs. Beeton from Knitty.com.
Showing the inner ruffle/bell.
Mrs. Beeton from Knitty.com
Yarn: 1 skein (less than 120yds) of Capistrano Fiber Arts' Handpainted (only available at LPK) 100% Alpaca in "Berries". Less than 1/4 skein of Blue Sky Alpacas Sportweight Alpaca in Chartreuse. This is the 'old style' of BSA, which they are phasing out.
Notes: The pattern calls for a contrasting color as the outer "bell" or ruffle, and the master color as the inner bell. I did the the other way around (CC as the inner bell and MC as the outer) because I think it looks better in this colorway and with these yarns. I also made the wristwarmers a little longer than the length in the pattern, and I didn't use the picot edge suggested by the designer. A picot chain stitch from Nicky Epstein's Knitting on the Edge seemed to fit better.
It's a pretty easy pattern, and I think it's great for using up small bits of yarn. Especially those really expensive ones like Kidsilk Haze, which would make a cool outer or inner ruffle. The hardest part was figuring out how to connect the two bells together; despite the pattern's well written instructions, I had to fiddle with the two peices for a few minutes before everything clicked.
I think these would make great gifts and I'm planning on making another pair.