This design is called "Bonds of Love"; a cuff style bracelet based on a Victorian technique - split loom weaving. The solid base is formed and then "split" into smaller bands, which are braided on the loom and then brought back together.
A small alphabet that can be worked in square stitch or on a loom and is a good size for friendship bracelets. The alphabet is only 5 beads tall. - Mini Alphabet for Square Stitch or Loom - Beadwork at BellaOnline