Here is a simple idea that lets you turn a small strands of Yarn into a simple friendship band.
Step 1: Pick a Yarn
Take a Yarn that is about 15 - 18 inches in length.
Note: The final band will be about 1/3 length of he the yarn you start with
Step 2: Make a Loop
At one end of the Yarn make a loop
Step 3: Make a Slip Knot
Pull the long end of the yarn through the loop to make a Slip Knot
Step 4: Tighten It
Pull the pinched Yarn till it tightens and then pull the long strand to reduce tte loop to a small size.
Step 5: Chain on Slip Knots
Repeat Steps 3 and 4 to make a chain of Slip Knots. Stop when you have the desired length.
Step 6: Finish the Chain
Pull the Loose end of yarn through the loop and tuck on it to tighten the Chain.