One approach:
in1 = [5 4 1 8 9 1];
in2 = [7 3 5 5];
cin = {in1; in2}; % Create Cell Array For Addressing Convenience
Lin = [length(in1) length(in2)]; % Vector Lengths
Ldif = abs(Lin(1)-Lin(2)); % Length Difference
[~,Lmin] = min(Lin); % Find Vector With Minimum Length
cin{Lmin} = [cin{Lmin} cin{Lmin}(end)+[1:Ldif]]; % Extend Shorter Vector As Desired
vec = zeros(1, 2*max(Lin)); % Preallocate
vec(1:2:end) = cin{1}; % Weave Odd Elements
vec(2:2:end) = cin{2}; % Weave Even Elements
vec =
5 7 4 3 1 5 8 5 9 6 1 7
