You can start to see the form of the bracelet already! Once the 4 rows of bright aqua were added, I then went back to the 8/0 gold lined aqua for 3 rows and the 11/0 matte gold delicas for 7 rows and started the bead changes all over again. I continued this pattern until the bracelet measured 7".
I like the look of the spaces between the increases, but that is a personal choice. You can certainly add less rows of the smallest beads so the ridges are closer together. For that matter, each of the bead increases can be less or more rows depending on the look you want to create - it all depends on your own personal taste. If you need help starting the peyote stitch, there are great tutorials on the internet (check out http://beadwork.about.com/od/peyotestitchbeading/Peyote_Stitch_Beading_Tutorials_and_Lessons.htm for a really good one), and there are also some great books out there, too.
Next, we add a clasp.