Quasiperiodic diffraction patterns have been observed in VHF scintillation recorded at Ascension Island in 1981. The patterns occur most often at the beginning or end of a scintillation patch and are shown to be consistent with those expected from irregularities having eastwest scale sizes of a few hundred meters that are associated with the walls (edges) of equatorial plasma bubbles. By adjusting the geophysical parameters in a computer simulation of the amplitude fluctuations expected simultaneously at VHF, L-Band and C-Band, we model a specific event in detail. The model contains information on the size and strength of the structures that cause the regular fading patterns. In addition, multi-frequency diffraction patterns are computed for a ''phase screen'' model based on high resolution measurements of a structured plasma bubble wall made using the AE-E satellite. The results are qualitatively very similar to the observations. Finally, implications of the model results for the extraction of information about the vertical structure of the irregularities are discussed.