Scrunchies

Materials:
covered elastic band,
sport or worsted weight yarn, 2 colors
size 4mm crochet hook

Instructions:
rnd 1: 30 (sc, ch 1) around band, join with slst
rnd 2: slst in 1st ch 1 sp, ( ch 5, trc, ch 1, trc, ch 1) in that ch 1 space (trc, ch 1) in each ch 1 sp around.  slst in 4th chain of ch 5, fasten off.
rnd 3: join contrast color in top of any trc, ( sc, ch 3) in each ch 1 sp around, join with slst, fasten off.
 

Another one:

Materials:
covered elastic band
sport or worsted weight yarn
size 4mm hook

rnd 1: sc around band join with a sc to first sc
rnd 2: ch 7, sc in same st, ch 6 sc in same st,  (ch 6, sc, ch 6, sc) in each sc around, join with slst,
fasten off.

*this looks really nice with beads,  just  thread beads on yarn before beginning and pull up evenly around 1