Cut a piece of ribbon about 8 inches long. String one bead onto the ribbon, hold both ends together and push the bead into the center. String other beads as desired by pushing both ends of the ribbon through each hole and push the beads down to rest on the first one. Once you have the bead design you want, trim the ends of the ribbon so there is about 1 inch extra.

Put a few drops of glue into the eraser hole on the end of the pencil. Lay the ends of the ribbon into the eraser hole and then gently work the eraser back into the hole, on top of the ribbon. Let dry.