I love the symbolism behind the Olympic flag. The five interlocking rings are said to represent the 5 continents that come together for the Oympics. The colors of the flag (blue, yellow, black, green, red and white) were the colors of the flags of all nations at the time it was designed (1912). Here's a really simple and inexpensive bracelet inspired by the Olympic flag that would work equally well as a party activity or a favor.
Materials: pony beads, clear stretch cord, scissors, binder clip
Cut a piece of clear stretch cord about 2-3 inches longer than the desired wrist circumference. Attach to a binder clip to one end (to prevent the beads from fall off one end as you thread them on the other). Start threading the beads on the cord, beginning with 8 whites. Then add 1 each of blue, yellow, black, green, and red. Add 8 more whites and test the fit. Add or subtract white beads until the bracelet is the correct size.
To finish your bracelet, remove the binder clip and tie the ends together tightly using a normal overhand knot (the first step in tying a shoe). Tie a second knot using a surgeon's knot. It is basically the same thing as an overhand knot but you put the end through the loop an extra time. Pull tightly to secure it. Trim the excess cord or thread it back through the beads to hide the ends. You can add a drop of glue to the knot to make sure it's extra strong, but it's not necessary.
I'll announce the winners of the giveaway later today. Good luck!