This bracelet is actually fairly easy to make, even though it looks like some sort of intricate work. :)
1
First, start our with the standard hemp bracelet/necklace/anklet setup. Four strings, 2 on either side of the inside surrounding two together in the middle. Then, do two square knots.
2
Add three small beads on each of the outside strings, and one medium sized on the two middle strings.
3
Then, do two more square knots. There! You are done! Just repeat steps 2-3 until you have your finished product. :)