Cleaning up my computer area is a real eye opener. I just found this video I made in June(?) on making a Fabric Yo Yo Bracelet. The YoYo's tutorial on WhipUp.net is from Shira Cooper. Her work on Flickr are such fun Thank you, Shira.
To make this bracelet, you will need
8-10 squares of fabric
Cut the fabric squares 2x's the size of your desired YoYo size
small piece of elastic
beads, if desired
I use a YoYo maker but you can make yo-yo's the old-fashioned way, just remember to layer the two fabrics wrong sides facing.