Sadako Totsuka of Totsuka Stitch Institute has published many books on embroidery. Although all of them are written in Japanese, they are clearly illustrated. You don't need to read any instructions, looking is enough.
Now for the stitch. There is no name in the book, but the stitch resembles a loopy tassel so let's call it Madam Totsuka's Tasselled Chain Stitch.
It is made up of a Detached Chain Stitch, three loops and two Straight Stitches.
Begin by stretching the fabric in a hoop.
Make a Detached Chain Stitch (Lazy Daisy Stitch).
Anchor the stitch with a tiny stitch,
then make a loose loop, over and under the bottom of the Chain Stitch.
Repeat and make a second loop,
and a third.
Then make a tight Straight Stitch,
and you have a tassel.
The loops can of course be cut open, but in Madam Totsuka's book the loops are not cut.
Beware that this stitch is a fiddly stitch, and almost impossible to undo, so pay attention while working!
Here is a TIP:
Use a pin to wind the loops around and you will effortlessly get nice even loops.
SSS Reference Chart
Teal Tailoring Wool Scribble Cloth