Here is what we are making:
Base
What You will need:
PSP 6 or higher
imagination
a base..ready to have stockings :)
Let's get started!!
Step 1: Choose your dollie...and add her to a transparent background.
Step 2: Add a new layer (you can name it stockings), choose your color, and draw the stockings like so:
I'm making elf like stockings in red and green since it is christmas time (while I write this).
Step 3: You need to choose your second color (I chose red) and then add the stripes. Once done it should look something like this.
Here is a closer look:
Step 4: Grab the retouch tool (my favorite one..lol)
Settings I am using are: 
Step 4: Now you should shade wiht the toll on the outer part of the stockings. On my doll I'm acting as if the light is on her top right side. So I shade more on the left side of her stocking than on the right..this is my result:
Step 5: Now switch to the lighten part of the retouch tool. Lighten on the inside of the darker edges. I like to do it alot so it looks shiny. Do what feels comfortable for you. My result:
Now you can leave as is or add a little something to the thigh part. If you would like to make them sheer (which is a bit sexy). Just lower the opacity and darken and lighten a bit more for your desired effect. Here is a sheer version of my doll.
Congratulations on making your own stripy stockings doll!!!