I usually do Kiteman's method. Another method that I'm using with a large group of kids is even simpler. I got a small bag of coils and lobster-clasps from Wal-Mart in the kid's crafts section (32 coils, 16 clasps, two slightly different sizes, $2.00). I also got some Loc-Tite craft glue. It's exactly like super-glue in its strength of bond and what it will bond, but it won't dry in .000005 seconds and has a really nice, long, pointy application tip for getting in tight spaces. When you start out your bracelet, loop the shorter strand through the lobster clasp. Make a lark's head knot (rubber-band knot) with your larger strands under the clasp to hold it on. Then knot! Once you're done with the bracelet, trim all of the strings to about the same length, twist them together nice and tight, and slide your coil thing onto the strings. A few drops of glue inside the coil and a few seconds of holding it there should have you right as rain. If you already made your bracelet, you can attach the lobster clasp to one of the coil things and glue it on the same way to the other end. Best of luck!
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Like kiteman said tie a loop in one end and add a large knot or bead to the other. If you also want to make it adjustable you can make multiple loops on one end so that you can pick the loop to adjust it's length.
There's a knot which I think is called a fisherman's knot (?) that you could use. It let's you end it so that you can make it bigger and smaller.
Tie a loop in one end, and add a button, bead or large knot in the other.