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My friend had one of these and I had to try and make it.
Step 1: Make sure you have sturdy pliers to hold the fork into place when you are using another pair of needlenose pliers to bend the prongs.
TIP: Use a cheaper fork, they tend to be easier to bend.
Step 2: Use the needlenose pliers to bend the prongs to your desired shape/design. I have heard that if you heat up the fork with a blowtorch the prongs are more malleable, but I think that technique is a bit extreme unless you are making an extremely complicated design.
Now you have a bracelet!