We will only be working on the first four pegs. Hook a red band over the first peg and twist it once before looping it over the second peg, so it forms a figure eight between the two. Do the same between the third and fourth peg. There should be a space between the two bands so that they don't overlap on a peg (see picture).
Place a silver band in the same figure eight pattern between the second and third peg, bridging the gap between the two red pegs. You should now have one red loop on the first peg, a red and silver on the second peg, a red and silver peg on the third peg, and a red loop on the fourth peg (see picture). These are the only bands that will be twisted into figure eights. The rest will simply be stretched between pegs without any twists.
Place a red band between the first and second peg, and another between the third and fourth peg. You should have two red loops over the first peg, two reds and a silver on the second peg, two reds and a silver on the third peg, and two red loops on the fourth peg (see picture).
Once you move the bottom loops from the middle two pegs over, place a silver band between the second and third peg (no twisting). This will again make you have three loops on the second and third pegs. Take the bottom loops and hook them over to the other side of the pegs.
Now place a red band over the first and second pegs, and another over the third and fourth pegs. This will make three loops on all four of the pegs.
Continue this pattern:
Red on pegs one and two.
Red on pegs three and four.
Hook third loops over pegs.
Silver on pegs two and three.
Hook third loops over peg.
As the bracelet builds, it will come off the pegs looking like the photo below.
Place your hook through all of the loops on peg two. Use the hook to grab onto a new band and pull it through the loops on the peg (see picture). Make sure to hold the other end of the band until you can thread your hook through both ends, with all the loops from the second peg on the middle of the new band. Hook another band through the ends of the first band, and continue this until you have a chain of single bands long enough to complete the circle around your wrist (see picture).
Use and s-clip to connect the end of the chain to the other side of the bracelet, forming the loop of the bracelet (see picture). Repeat the process starting from the third peg, forming a chain, and connect your second chain to the other end of the bracelet using your second s-clip (see picture).
You should have your patterned part of the bracelet for the top of your wrist connected by two chains of single-bands for the underside of your wrist.
Flip your bracelet inside out to show the curling side hiding the mustaches. Start at the opposite end from the s-clips. Run your hook through the inner red band on the right, then go through the inside of the bracelet to hook the inner red loop on the opposite side. This will peel back the curling edges to expose the mustaches (see picture).
Hook a new band and pull it through the two loops that are currently over your hooking tool. Repeat this until you have a short, single-band chain on the inside of your bracelet (see picture). After you have about three links in the chain, loop the two ends of the last band over your finger so you can slide your hook out. Use your tool to hook the inner right red band on the top of the bracelet (about five loops farther down from the last one).
Before hooking the inner red band on the left top of the bracelet, slip the two loops from your finger onto the hook. You should have the right band from the top, the two bands from the short inner chain, and the left top band all on your hooking tool.
Hook a new band through these four loops and make another short chain. Repeat this process for approximately every five loops on the top of the bracelet, slowly uncurling the sides and pulling them back to reveal the mustaches.
Once you reach the s-clips, hook through one more set of the top red bands on either side. You should have four loops on your hooking tool. Slide the two closest to the right through the right s-clip, and the two closest to the left through the left s-clip.