I made a discovery a few days ago after paying 4 bucks plus shipping for a pair of ladybug pony tail holders. They were made with novelty buttons with a shank. They had a Goody stretch pony tail holder.
I bought some novelty buttons and stretch rings and made some by pulling the ring though the shank with a piece of thread. You can then loop it back through itself like you would with a latch hook. Adjust the tautness of it just by pulling and wiggling it around. Now she has butterflies, daisies, and high top tennis shoes.
This is a page about making button hair ties. Quickly and easily make your ponytail bands more decorative using buttons.