I'm not sure what you would call this weave but I have seen it about on a few occasions.
The main one being when it was used for a triangle hat by Monsieur Sigrid who does have a DVD tutorial
out on the designs he makes, well worth checking out as he has a really unique style.

Kenneth Ho was making this in the jam room at the Balloon Convention last week so I had a go at making it when I got home.