Modern Crochet is a magazine that only appears in the episodes "Karate Star", and "InSPONGEiac." It is one of the many magazines Squidward reads at work. It is about crochet, hence the title and the cover. Like other magazines, Squidward enjoys reading this. Squidward has never been seen crocheting, although this could be proof he does enjoy to crochet.
This magazine has a yellow cover. At the bottom, you can see a knitting action (a blue bowl with yarn in it.) Above the knitting it says "Modern Crochet" written in big purple letters.