You can add a picot edge to the jagged edge of peyote beadwork like so:
And you can add a picot embellishment to the flat edge of your peyote beadwork like so:
This technique works well when you use a smaller bead to add the picot edge. For example you can embellish beadwork that uses size 8/0 with size 11/0, and embellish beadwork that uses size 11/0 with size 15/0 seed beads.
You can also use a similar technique to add a picot edge to the straight sides of peyote beadwork:
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