It is a thin bracelet that is basically a inverted fishtail surrounded by another fishtail. All it requires is 2pegs so it can be made on the rainbow loom, monster tail, mini rainbow loom, fun loom, bandaloom, fork, or cra-z loom.
I would recommend using 2 colors or 2 sets of colors that are high in contrast in order to bring out the most of this design.
To calculate how many bands you need for the inner "bow" color, take the length of your wrist in inches and multiply it by 6. You will need about the same amount for the other color(or set of color).