Symeon North says it is "addictive" and "simple." I don't know if the former is true, but the latter hasn't been for me. I am not a good plyer, so when I tried to make coils like this, it simply didn't happen. But now there's this article in KnittySpin. I still need to give it a read and try Symeon's technique. Aka Pippikneesocks, Symeon's blog is here and her retail site is here.