Short(ish) version, I cut the circle and folded the waistband to create a casing which I threaded elastic through, and then finished off the hem properly and tried it on the little one. She loved it and it was a little too long but I wasn't allowed to take it off at that stage to fix the length. I did notice that while it fell exactly as I wanted it still was quite see through so when I finally snaffled it back I decided to glam it up a bit by adding a ruffled layer of tulle which had it's own ruffled layer of tulle attached midway down. Then with some of the left over fabric I cut 2 long rectangles (couldn't tell you how long, just as big as I could get out of the remaining material), sewed them at both ends to create one wide tube and gathered the top of this too.
I put all three layers, (ie original skirt with the waistband unpicked, tulle, tube gathered skirt) together with another strip that would become the waistband, and sewed them all together. I then folded over the new wasteband to the right side and sewed it down and finished off the waistband by topstitching the very top. Threaded through elastic again and this is what I had....
The response...."E don't wuck it". Translated: "E don't like it" (she refers to herself in the third person and can't pronounce her name properly so E it is.) So it sat in her draw for about a week until she decided today that she just had to wear it.