How to make this type of bracelet?

I've made a few friendship bracelets and I saw this one http://www.google.com/imgres?imgurl=http://friendship-bracelets.net/im/ppic/7326.jpg%3F1275681747&imgrefurl=http://friendship-bracelets.net/forum.php%3Fthread_id%3D9188&usg=__doATsJoKsj5uPl-HslZb6ijTTw4=&h=300&w=300&sz=31&hl=en&start=40&zoom=1&tbnid=yLe2lbuUtH5wyM:&tbnh=129&tbnw=129&ei=dOoHTsyWIOTWiAK9r4XMDQ&prev=/search%3Fq%3Dfriendship%2Bbracelet%2Bpatterns%26um%3D1%26hl%3Den%26sa%3DN%26biw%3D1600%26bih%3D719%26tbm%3Disch&um=1&itbs=1&iact=hc&vpx=747&vpy=133&dur=3323&hovh=225&hovw=225&tx=140&ty=161&page=2&ndsp=36&ved=1t:429,r:31,s:40&biw=1600&bih=719 but I couldn't find a tutorial on it. or at least one that isn't confusing. Can anyone find one and post the link? Thanks!