Celtic Knot example.
A couple of crappy knots I made during testing. These are not single strands. Like I said— crappy. The font helps a lot, but it won't do everything for you. The top one is a nice, two-strand knot, but overly simplistic. The bottom one is much nicer and less symmetrical, but has too many strands (a nice long one and three short rings).
And here's part of the (never completed) documentation on how to use the font.
The main reason I never bothered continuing this project is one obvious to any who've used METAFONT—even though it's an impressively simple tool for making such designs, it can only create bitmap fonts. Even in 2003, bitmap fonts were a quaint thing of the past and had limited uses.