I'd made some felted bangles from an existing pattern that started with stockinette strips, but didn't like how post-felting there was a groove in the middle where the fabric had curled in. So I decided to try using i-cord - and it worked beautifully. It's also a great way to use up scrap yarn!
I made these to use as prizes for my neighborhood block party.
Using feltable wool, knit roughly 12-12.5 inches of i-cord. Whip stitch ends together. It's that simple.
My best results have come from knitting 5 stitches of i-cord on 10.5 DPNs or knitting two strands of worsted wool (or one strand of wool roving yarn) on 3 stitches on 13 DPNs.
I vary it up with 3-, 5- and 7-stitch i-cord for fun.
To felt: pop several bracelets in a laundry bag or a pillow case closed tightly with a rubber band and knotted. Fill washing mashing (set on small load) with hot water and about one tablespoon of baking soda (to reduce the wet-wool smell). My water heater isn't too hot, so I usually have to put it through two cycles before they've felted enough.
Air dry. I dry them on a marble rolling pin to help shape them - but a saran-covered wooden pin will work, too.