Victorinox of Switzerland makes one of the finest propagation knives available.
It has two blades. One is specifically suited to bud grafting, having a rounded blade and a bump on the top to pry open the bark after making a cut. The other blade is straight and is designed for making cuttings or scions. Each stainless-steel blade is about 2 1/2" long.
When closed, the knife is only 4" overall and easily fits in a pocket. Excellent quality.
Grafting wax, to seal the graft wound, is available separately.