1. Take a med length sock
2. Cut from the top of the sock(not the toe) down towards the toe about 1 1/2 - 2"
~ make 6 evenly spaced cuts around top creating 6 flappy slit type things
3. Braid ponies tail
4. Band the end of the braid
5. Coil the braid up just as you would with vet wrap
6. Put the sock over braid (very similar to vet wrap)
7. Take the flappy slit type things and thread them above braid through hair and tie a knot
8. Tie however many knots you need with your several flappy slit things, and you should be good.
You can just rinse the sock and reuse it when it gets dirty. Saving you vetwrap, money, and time (: