On the bottom of pipe bags the fringe was added and then slit on some of them..some are stitched in as a welt...
and then some were both ..I think you are talking about leaving the welt proud and then adding fringe to it..correct?
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Look at the center of the pipe bag drawing, the fringe was stitched to the outside of the bag upside down
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and one of mine with both..The bag was stitched inside out, the long fringe is a "welt" and the shorter fringe was stitched on it like the above drawing....
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and this one was stitched in as a welt...Like Ray said, I do suggest slitting the fringe after stitching...
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and this one was whip stitched with long fringe strips added under the stitches...
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Brother, anyway you can get it on, in or around it still looks GOOD!!