First off though, I have to say thanks to Mat from BENTFORMS, for answering all my random questions.
Step 1: Supplies
1. A Phillips head screwdriver you wouldn't mind gouging up. The screwdrivers diameter will be the same as the rings you make.
2. Pliers. Any will do, just make sure they're not really tiny or really big.
3. Paperclips. I use the 'Jumbo' kind from a certain store that rhymes with 'Maples' you can get 700 for around $7, great deal if you ask me. Too thin of a clip won't make very good rings, however, so make sure yours are thick enough.
4. Rotary tool with cut-off wheel. This is what you'll use to cut your rings. While you CAN use a wirecutter, they will leave points on the ends of your rings, eventually 2 ring's openings will line up and they will come apart. The flat edge a cut-off wheel makes is perfect for this, although your rings will be a little misshapen due to the material the wheel takes away.
5. Vice-Grip. This is what you'll use to hold the straightened out clip on your screwdriver.
Step 2: Straighten Your Clip!
Step 3: Prepare Your Clip for Wrapping!
Sorry for the blurry picture, but I think you get the point.
Step 4: Wrap!
Twist the clip around the screwdriver, but go slow and make sure you get a good coil. If there's any space between the rings, that will show up as a... very open ring once you cut it. Take the time to make sure you wind it as best you can, it will make using your rings a lot easier! Don't try to wrap the whole thing around the screw driver, you won't be able to use the last ring anyway.
Step 5: Cuttin' Time!
I can't tell you how many times I've had a cut-off wheel break and go flying.
When you cut your rings, go slow and use a steady hand. You want your rings edges to more or less match up. If you rush your hand will wobble and you'll end up with slanted edges which won't be very useful.
In the second picture, you can see that I ended up with 6 rings, the 2 off to the side are the ones I couldn't use, the bottom one being where I clamped the clip to the screwdriver
Step 6: That's It!
Note: In the last picture you can see what I made using these clips. I put the bracelet in some Tarn-ex, and it left it black, I think it looks neat so that's why I'm sharing it with you!
A perfect companion to this instructable would be my other one, on how to make a simple jewelry clasp.