This is a pattern for a stranded work waistcoat worked in the round, from the bottom up, and with steeks. You may use corrugated or single-colour rib.

This pattern is intended for knitters who are familiar with complex colourwork charts and understand gauge/repeat and its relation to finished size.
Finished size of your garment is determined both by needle size/gauge AND number of side panel repeats. I have included approximate suggested finished sizes, but there is room for change (any changes may result in changes of yarn amounts). There is a brief tutorial about the Ladder Back Jacquard technique as well as written and link instructions for steeking.

yarn:
2 Ply Jumper Weight by, Jamieson & Smith; Fingering; 100% Shetland; 125yds (115m)/25g
approximate yarn amounts {A is dark - FC56 Mix, B is light - 202}:
26 stitch gauge - colour A 174 (216, 260, 298) g / 870 (1080, 1300, 1490) yds / 795 (988, 1189, 1362) m; colour B 74 (90, 110, 125) g / 370 (450, 550, 625) yds / 339 (411, 503, 572) m
29 stitch gauge - colour A 156 (195, 234, 275) g / 780 (975, 1170, 1375) yds / 713 (892, 1069, 1257) m; colour B 60 (75, 90, 106) g / 300 (375, 450, 530) yds / 275 (343, 412, 485) m
32 stitch gauge - colour A 164 (210, 258. 322) g / 820 (1050, 1290, 1610) yds / 750 (960, 1180, 1472) m; colour B 68 (89, 108, 135) g / 340 (445, 540, 675) yds / 310 (407, 494, 618) m
needles: (circular needles 32in/80cm)
26 stitch gauge - 2.75mm & 3.25mm
29 stitch gauge - 2.5mm & 3.0mm
32 stitch gauge - 2.25mm & 2.75mm
gauge:
26 (29, 32) sts and 26 (29, 32) rows = 4 in/10 cm over stranded stockinette patterning on 3.25 (3.0, 2.75) mm needles
Some knitters work stranded and corrugated rib at different gauges than single colour - change needles, as needed, to keep gauge the same throughout.
approximate finished sizes (suggested):
26 stitch gauge - 37.5 (46.5, 55.5, 64.5) in / 96 (118, 141, 164) cm
29 stitch gauge - 35 (43.5, 52.5, 61.5) in 89 (110.5, 132, 153.5) cm
32 stitch gauge - 31 (38.5, 46, 53.5) in / 78.5 (98, 117, 148.5) cm
additional tools:
needle, st markers (6), st holders, 4 - 6 buttons (15mm)