Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SIEGEL HOWARD B
   2. Issuer Name and Ticker or Trading Symbol
CHEROKEE INC [CHKE] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President
(Last)
(First)
(Middle)
6835 VALJEAN AVE		 3. Date of Earliest Transaction (Month/Day/Year)
11/24/2009
(Street)

VAN NUYS, CA 91406		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock               38,718 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Common stock option $ 34.62             06/30/2007 06/30/2012 common stock 3,333   3,333 D  
Common stock option $ 34.62             06/30/2008 06/30/2012 common stock 3,334   6,667 D  
Common stock option $ 43.42             03/29/2008 03/29/2014 common stock 3,333   10,000 D  
Common stock option $ 43.42             03/29/2009 03/29/2014 common stock 1,030   11,030 D  
Common stock option $ 43.42             03/29/2010 03/29/2014 common stock 1,031   12,061 D  
Common Stock Option $ 39.16             10/01/2008 10/01/2014 common stock 3,333   15,394 D  
Common Stock Option $ 39.16             10/01/2009 10/01/2014 common stock 3,333   18,727 D  
Common Stock Option $ 39.16             10/01/2010 10/01/2014 common stock 3,334   22,061 D  
Common Stock Option $ 22.7             08/21/2009 08/21/2015 common stock 3,333   25,394 D  
Common Stock Option $ 22.7             08/21/2010 08/21/2015 common stock 3,333   28,727 D  
Common Stock Option $ 22.7             08/21/2011 08/21/2015 common stock 3,334   32,061 D  
Common Stock Option $ 34.62 11/24/2009 11/24/2009 J     3,333 06/30/2007 06/30/2012 common stock 3,333 $ 0 28,728 D  
Common Stock Option $ 34.62 11/24/2009 11/24/2009 J     3,334 06/30/2008 06/30/2012 common stock 3,334 $ 0 25,394 D  
Common Stock Option $ 43.42 11/24/2009 11/24/2009 J     3,333 03/29/2008 03/29/2014 common stock 3,333 $ 0 22,061 D  
Common Stock Option $ 43.42 11/24/2009 11/24/2009 J     1,030 03/29/2009 03/29/2014 common stock 1,030 $ 0 21,031 D  
Common Stock Option $ 43.42 11/24/2009 11/24/2009 J     1,031 03/29/2010 03/29/2014 common stock 1,031 $ 0 20,000 D  
Common Stock Option $ 39.16 11/24/2009 11/24/2009 J     3,333 10/01/2008 10/01/2014 common stock 3,333 $ 0 16,667 D  
Common Stock Option $ 39.16 11/24/2009 11/24/2009 J     3,333 10/01/2009 10/01/2014 common stock 3,333 $ 0 13,334 D  
Common Stock Option $ 39.16 11/24/2009 11/24/2009 J     3,334 10/01/2010 10/01/2014 common stock 3,334 $ 0 10,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SIEGEL HOWARD B
6835 VALJEAN AVE
VAN NUYS, CA 91406		       President  

Signatures

 Russell J. Riopelle under POA for Howard Siegel   11/25/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
 
Remarks:
Mr. Siegel voluntarily forfeited the stock options noted above on 11/24/2009.

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