Bruce Grant in "How to Make Cowboy Horse Gear" calls this the side button knot. I show an easier way IMO to make the base knot.
This tutorial uses a 4 lead 5 bight turk's head knot as a base.
For the pink bracelet I added an extra over, under tuck in step one. This made a 4 lead, 9 bight base.
I followed the basic pattern as outlined in the instructions.
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Bring WE (Working End) around mandrel over under.
Here is where you would make an extra over under tuck if you want to increase the base.
Bring WE over and then under Standing End.
continue under, over
Over the standing end and then go up under, over under.
Bring WE over, under, over.
This completes the 4 lead 5 bight base.
Bring WE parallel to standing end under, over, under
Bring WE down over 2, under, over.
continue under 2, over, under.
continue down over 2, under 2, over.
and up under 2, over 2, under
and down over 2, under 2, over 2.
and up under two, over 2, under 2.
The last p[ass is over 2, under 2, over 2 to complete the knot.
If you desire you can bring the WE parallel to the standing end and double the knot.
Completed knot tightened.
Compare the side button knot to the Spanish ring knot -