An elastic ponytail holding device and method of making the same. The device is fabricated by forming a rectangular piece of flexible material such as cloth longitudinally and stitching the same to form a flattened tube. An elastic band is stitched under tension to the tube. While in tensioned condition, the tube is transversely slitted to form tab-like two ply petals which under contraction of the elastic band present a simulated floral appearance, following which the ends of the elastic band and tube are interconnected to form a resilient loop.