Hope you enjoy making this instructable, please leave honest feedback. :-)

Step 1: Gather Your Resources

You will need:
A loom
A crochet hook
Some bands

Step 2: Set Your Loom

Set out your loom so that the pegs are all parallel.

Step 3: Placing the Rubber

Place a single black rubber band at the top of your loom. Then placing two bands at a time, place them like in the photo.

Step 4: Placing More Bands

Always taking two at at time, place the rest of the bands as the photos show.

Step 5: The Led

Place two bands, then place a cap band an the end. Twisting it as many times as your band will go, mine goes 3 times round.

Step 6: The Cross Overs

Take a band, and twisting it once place across two pegs, like in the photo. Then twisting it once place these bands up the pencil. So it looks like the last photo. Don't put a band at the very top of the pencil.

Step 7: Hooking the Bands

Reach under the cap band and hook the two bands over. Then going under the black band pick up the first two white bands over. Then hook the next two. Continue this all the way up the pencil. When you get to the end reach under a hook them on to the middle peg, like in the photo.

Step 8: The Slip Knot - the End

Reach under all the pink bands and pick up the black band, hook it over. Then pick up the bottom one and loop it over so it looks like the second photo. Then pull the band on the peg to tighten it. Then pull it off.

Enjoy your faux pencil.