Edit: I have since making these straps had the chance to use these and they work surprisingly swell. I am very happy with the finished product.
Edit: Someone pointed out that the straps aren't adjustable, and while he's right, at the time all I had at hand was what I ended up using, which I like a lot actually. But, that being said, if you wanted to make these adjustable you could just snip them in the middle,(you might want to do something to stop whatever material you are using from unraveling) and add a buckle or some other similar device. Those kind of things can be gotten on the cheap at any craft store or better yet a Michaels or whatever.
Step 1: Materials
What you will need:
4 small 1 1/2 inch screw bolts
4 nuts *giggle*
fabric cut to size - more on that later
Tools you will need:
hot glue gun (important if the fabric you use frays easily)
5/8 wrench (used to get pedals off - might vary depending on model of bike)
Drill (optional but it helps if you need to make holes)
note: Sorry about the vagueness in the sizes of the nuts *giggle* and bolts but I already had them so and I am not good at guessing numbers. I'm the kinda guy who says things like "that looks about right" and "I really thought that would fit". lol