Both the leading and trailing ends of the respective yarns introduced to and removed from active knitting position are of uniform length on the inside of the sock when forming solid color patterned areas in the sock. The cutting of all yarn ends inside of the sock, enables the operator to easily evert and inspect the inside of the socks as they are removed from the knitting machine and eliminates the usual time consuming operation of cutting the yarn ends after the sock is knit. The cutting and clamping apparatus is illustrated in association with a four-feed solid color patterned knitting machine of the type normally employed in knitting argyle patterns in socks, and includes a vertically disposed suction tube with the lower end disposed within the upper end of the needle circle. A yarn clamping member is associated with the lower end of the suction tube and a hot wire cutter is positioned between the needle circle and the clamping member. A yarn lifting member is supported for vertical movement adjacent to clamping member and lifts a yarn moved to inactive position into engagement with the hot wire cutter.