We successfully made and used our own loom for making rubber band bracelets using 2″ framing nails and a scrap piece of 2 x 4.
This is certainly not as easy to use as something like the Rainbow Loom where each peg has a slot that you can slip a crochet hook. Learning new patterns along with the no slot adds to the frustration and learning curve for my girls, but isn’t bad at all for me and we’ve worked together.
The homemade loom works for all of the Rainbow Loom patterns we’ve found on YouTube. I spaced out the nails 1″ apart – the outside and inside lines are offset by 1/2″. My nine year old dreams of being the girls YouTube instructors and my girls have conversationally referred to Ashley as though she is a good friend.