Alternade
A word or phrase is divided into two or more others by taking alternate letters in order. Examples: schooled, shoe, cold; lacerated, let, are, cad. The shorter parts need not be all the same length. Another example:
The solution: ALL = Algeria, ONE = Agra, TWO = lei*.
When the shorter parts are single words—as in the above example—enumeration is given only for the longest part; it’s easy to deduce the lengths of the shorter parts from this.
The alternade was introduced by L’Allegro in June 1917.
Because there seem to be few good bases for alternades, this type has never been very common. However, it forms the basis for the rebus alternade, or rebade (which see).