the brunette one's $7 version:
Words of Wisdom -- DIY: Chan Luu Wrap Bracelet
When preparing the thread, I suggest to double the thread, to ensure the strength of the bracelet. Also, make sure you cut the thread long enough (if you think it's too long, you'll more than likely have enough, but don't be afraid to use more thread, you would rather cut off the excess string then have to add more on like I did -- not a pretty sight). DIY projects are always trial and error, but don't be afraid of the challenge. You can make the bracelet as long as you want (mine is long enough to wrap twice around my wrist) and match any thread to the bead or leather cord you choose to use.