Here's Day 1 of this year's TIAS.
My button is closer to 1/2 inch than the 3/8 inch Jane recommends. Hopefully this won't throw it off by too much. The thread is Lizbeth color 158 Niagara Falls.
At this point, my guess is a unicycle, although I'm sure that will change with the next installment. With each day's release, I always wait till I've tatted my own and thought about my own guess before I visit the TIAS blog to see how others have tatted it and what they are thinking. So now that I've done my bit, I'll just toddle over there and check it out.
I always forget, too, how very little tatting is involved in each day's bit. It is nice to have such a small thing to look forward to in between other tatting (not that I've actually done any other tatting since the last post, but I mean to).
UPDATE: Oh fer cryin' out loud. I read the directions, I looked at the picture, and I still did it wrong. It's a good thing I did look at the TIAS blog, or I might not have caught it until way too late. And I'm glad the lock stitch chain is only 4 stitches, as those are a bugger to unpick. Here's the corrected version, both rings joined to the same hole on the button.