To make these I just measured a lenght (about7") of 1/8 inch elastic to fit easily around my children's wrists or ankles, threaded bells on and tied the ends together. The ribbons are sewed in groups of three (you could do more or less). I cut the ribbon in about 12" lenghts and folded them over the elastic and sewed them. I also sewed the tied ends of the elastic into one of the groups of ribbon to really secure it. The bells would be a choking hazard if they came off.
close up of how the ribbons are attached.