The paracord is optional, I used it for a comfortable grip. This is an Instructible on how to make a wooden slingshot .
Step 1: The Prepping
First you need to go out where there are trees, for example your back or front yard. Find one the looks like a "Y" shape and it doesn't have to be really thick and make sure the handle fits in your hand nicely and the other part is about 4 inches long. Then get a piece of leather cut it to be 1 inch tall and 2 inches wide. Get a leather hole punch, and set it to 1/8 of an inch, then punch two holes in the sides. Then get some elastic string about 28 inches cut it in half, bend the half's in to another half and tie it.
Step 2: Attaching the String Into the Leather
Tie it like it shows with both of them.
Step 3: Attaching the Pouch and String to the "Y"
Tie it to the "Y" thing like the first step of tying your shoes. Then wrap the duct tape (doesn't matter the color.) Keeping the string out just wrap the tape in a cross motion until out of tape. (use about 6 - 7 inches.)
Step 4: That's It
You're all done now!