As a training project, you'll end up with a nicely woven paracord bracelet, with a slotted button as a closure; I have found this method a little nicer and smoother-looking than my paracord bracelet with a monkey fist as a closure device.
Step 1: What You Need
Lighter or mini torch for melting raw ends
An awl, marlinspike or other pokey tool.
Sharp knife or scissors.
Step 2: The Weave.
Observe these pictures, Paracord Padawan!
Step 3: The Closure Loop and Finishing
Now you are enroute to being a Paracord Jedi.