The present invention relates to a one-step fastening device, a process for creating a fastener utilizing such a device, and the end fastener produced thereby. In this regard, the invention uses an outer, hollow fastener material that can be partially compressed under tension at designated areas (i.e., a compression member) and an inner activation or tensioning member. The compression of the outer fastener material occurs at one or more flexible areas or compression features specifically located on the longitudinal axis of the material. As a result, the outer compression member is capable of being distorted or bent under tension to produce a predetermined configuration. The device described herein has the ability to form specific and controllable fasteners of designated shapes and configurations. Methods for fastening, snaring, gripping, cutting, and manipulating material using the device in a confined space are also provided.