Can silly bandz be made at home?

My daughter told me that her friend wants silly bandz. Can they be made at home, what are they made of. I have never heard of such a product. What is this for and is it a waste of time and money to buy them in case they cannot be made at home. Would my daughter keep wanting more because she has a habit of wanting a lot of one item and then she won’t use it? If they can be made at home then can you also tell me how you get the various shapes? It would be great if you could tell me as she is getting slightly cranky.

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