Here is what you need:
1.) One Sugru pack (you choose your favorite color)
2.) Electronic components, ie. some resistors, capacitors, Integrated Circuits and so on. (You can also use some electronic junk material from your workshop)
Procedure is simple. Open one Sugru pack with your favorite color, make one long and one short piece as you can see in photos.
Long one should be long enough to fit around your or someone else's wrist (depends who you are making bracelet for :D)
The rest is up to your imagination. In photos you can see our version of design, with one IC bottom, two electrolytic capacitors, and few resistors.
Good luck and have fun :D