I used to do this to my girls' jeans after school let out. Great way to boost the summer wardrobe for next to nothing! Transform an old pair of jeans into adorable summer shorts using bias tape. Instructions on the site.
"How to Do More With Your Blind-hem Foot! Part Two: Top-stitching/Edge-stitching and Pin-tucks" Has instructions for using it to put in tucks before smocking.