A rope bracelet - reminds me of making friendship bracelets back in the day. My right second toe used to go numb because I'd hook the end of the bracelet over it, and then knot embroidery floss for HOURS.
I tried this out to make guest slippers. It took a bit of work through trial and error. The real problem is that thick felt like that is really expensive and the thinner stuff doesn't hold a shape as well