This bracelet was written using US standards. The yarn for this bracelet is made from a T-Shirt cut into one long continuous ½” strip. Here is a tutorial on how to make tarn. http://www.kits-crafts.com/t-shirt-yarn-tutorial.html#.UY...
Although this bracelet is pretty easy to knit up, working with tarn can be tricky. If you are using purchased tarn, check the width of the tarn. The original was knitted with tarn that is ½” wide. Just a couple of notes about tarn; not all tarns are made equal (obviously) and the type of T-Shirt you use can greatly affect the outcome of your bracelet. I originally made this using a thinner shirt that was 60% cotton and 40% synthetic. Generally, I have found that the pure cotton tarns stretch and will give you a greater quantity, but are also harder to work with. That being said, if you are using a typical, run of the mill, 100% cotton T-Shirt, go down a size and use bigger needles. This may still be tough, if you go up another size in needles, go down another size for the bracelet. Also, practice a bit to get the hang of the tarn if you have never used it before.

Tested in the Free Pattern Testers Group.