Lay the fabric out long ways and cut one inch strips with each color. You should have 30 strips of each color. Split them up into two piles, one for each side.
Cut the elastic thread (1/4in) in two 3 foot lengths. Lay the length out & tape down securely on both ends. Start by folding the strips of material in half, making an overhead knot. The loop goes over the elastic then pull the ends of the fabric though. Repeat alternating colors. Make sure that there is at least a foot of elastic bare, as that wraps around the ponytail/ bun. Pin in place, then keep wrapping the rest with the fabric around until it's fully covered. Secure with bobby pins.