Wool and the Gang shares with us the ladder stitch.
They do it a little different from how I figured it out:
- Determine where you want the bottom of the run to be, and make a yarn over.
- Knit until you are ready to drop the stitch.
- Follow the column of the yarn over up to the current row and simply slide the corresponding stitch off the needle and undo the stitches below until you reach the yarn over. The yarn over provides a stopping point for the run.