You will need a rainbow loom and some rainbow loom rubber bands. Set your rainbow loom so that each row is not straight, but shaped like the letter "v"
Step 1: Band Placement 1
Pull the band from the center peg to the right peg closest to it.
Step 2: Band Placement 2
Continue placing bands. The next band will go from the right peg that you just used to the second center peg. Continue the design all the way up the loom.
Step 3: Finish Band Placement
Now that you have finished the band placement, it should look like the picture. Now flip your loom around.
Step 4: Before You Loop
Take a band and double it on top of the last center peg.
Step 5: Hooking
Take your hook and go underneath the double black band and pull the colored band like shown in the picture.
Step 6: Finishing Up
After you finish hooking, it should look like this. Put you hook through the bands with out the double band and carefully remove from the loom.
Step 7: C-clip
Take a c-clip or an s-clip and clip both ends together.
Step 8: Done.
Now that you're done, it should look like this.