Cut a 12 inch piece of elastic beading/jewelry cord.
Choose the colours for your keychain. 1 for the inside (colour A) and 1 for the outside points (colour B).String 10 beads of colour A onto the cord.
Tie a secure knot connecting the 2 sides of the cords around the beads, forming a rough circle.Leave 2 inches of cord on 1 side, with the other end being longer.
Step 3: Make the corners of the star
Add 3 beads of colour B to the long side of the cord.
Determine where the long string is coming out. Skip one bead and bring the string through the next bead.
Pull the cord through and tighten it. Arrange the beads so that one sticks out on top of the other 2. This is one point of the star.
Repeat, adding 3 more beads to the same string. Skip another bead and pull the cord through the next.As you add the outer beads, the inner star will naturally start to form.
Repeat this process with the rest of the beads. (String 3 beads, skip 1 bead, in the next bead, etc.)
When you get to the end your longer string should be back next to the 2 inch tail. Tie the two ends together securely in a double or triple knot.
Cut off the excess string close to the knot. (You can stretch the elastic out to do this.)
Step 4: Add the keychain hardware
Open a jump ring and insert it around the outside of one of the corner beads.