I made some just like this, but without the bow. I wrapped velvet ribbon around cheap bangles. I am still stunned at how easy they were to make and how cool they look. I looked at the Lee Angel bracelets IRL ($95 each) to make sure I was doing it right. My total cost was $10 per bracelet.
JJ, please post how-to instructions of you would, as I'm not too crafty...thanks!
Ok, hopefully I will do an ok job explaining this...
I bought some plain wooden bangles from claire's, about an inch thick - rounded on the outside, flat inside.
Each bangle took about 1.5 yards of velvet ribbon, 1 inch thick.
Cut the end of the ribbon on a diagonal.
Glue it to the inside of the bangle, so the diagonal end is horizontal on the bangle (does that make any sense??).
Once the glue is dried, start wrapping the ribbon tightly around the bracelet, just overlapping the ends.
When you wrap it completely, use fabric glue to finish it. You can also buy some stuff to keep the end of the ribbon from fraying, but you can do the same thing by running a lit match across the edge (just be careful not to catch it on fire!). This is an old ballerina trick I learned for pointe shoes.
Let me know if this doesn't make any sense - it may be easier to understand with some visuals.