Below, I have a sample of Beaded Rib knit in a 4 ply worsted weight yarn (on the left, some cheap stuff purchased at Wal-Mart) and on the right, a lighter weight yarn (Vanna's Glamour). The worsted weight yarn shows off this stitch very nicely, whereas the second yarn swallows up the stitches.
Work with a multiple of 5 stitches, plus 2 (5, 10, 15 and so on, plus 2. So you would have 7, 12, 17 stitches respectively, and so on.)
Row 1: Purl 2 *Knit 1, Purl 1, Knit 1, Purl 2*
Row 2: Knit 2 *Purl 3, Knit 2*
Repeat these two rows for pattern
This is going to wrap it up for the ribbing for now. I will be posting more rib patterns in the future, but for now it is time to move on past ribbing!