I know that I saw this idea for binding somewhere, and I thought it was here, but when I tried to find it I couldn't. therefore, here's mine!
this is a quarter size notebook. I just folded 5 sheets of paper in half the "hamburger" way. I made 5 of these little mini books. then I cut all 5 books in half, leaving me with 10 quarter sized books with the opening on the shorter end.
I made two covers the same size as the pages, using some cardboard rescued from the trash closet and some leftover kraft paper I had.
then I punched holes in all of the parts, punching one side with the end hole of the paper puncher, then flipping it over to get a matching hole the same distance from the top. that way everything was all lined up and the holes were even with the top and bottom.
I cut a chopstick the right length and grabbed a new hairtie. then I just threaded the hairtie down through the top holes, around the back, and up the bottom holes, keeping it in place in the front with the chop stick.
I've made about 5 of these so far. they're really easy, really cheap, and oh-so cute. (it's a lot cuter in real life; I had to scan it.)