Abbreviations for this post:
EOR = end of row/round
PUW = pick up wrap and K/P it tog with wrapped st
Observe that I prefer to use Japanese W&T (can be found in a previous post as Japanese short rows).
There are at least two ways of working intarsia in the round… but my favorite is this one where you work the different colours in their own sections:
On RS: K until 1 st to EOR and PUW. W&T and cont to P. – My PUW on RS is ssk, where 1st slipped st is the last st of the round and the 2nd slipped st is the wrap st from the previous round.
On WS: P until 1 st to EOR and PUW. W&T and cont to K. – My PUW on WS is P2tog.