This stitch is decorative and one of the ways in which we can add to a simple running stitch to make it more interesting. 

You need to know the running stitch to be able to attempt this variation. 

eskimo_laced_edging_1     eskimo_laced_edging_2
Fig 1: Lay a foundation of running stitch. With a contrasting thread, bring out the needle from below and between two running stitches, as shown. Take the needle under the first stitch and then turn and take it under the second. Do not pluck the fabric while doing so.   Fig 2: Finish up by taking the needle in through the same point from where you began. Repeat the process for the entire row of the running stitch. 
eskimo_laced_edging_3   Fig 3: A finished row of eskimo laced edging looks like this.