Measure the leather strip to fit your wrist and cut, leaving it an inch longer just in case. You can create a single wrap bracelet or wrap it around a couple times.
With the help of sharpie make small dots where you would like your studs to go.
Now cut using an X-Acto knife, make small slits at the markings. Place your studs through the holes and fold back the prongs to attach in place.
Place one of the studs at the very end of the leather strip. Instead of folding the prongs over like all the others, twist them outward, kind of like a flower's leaves.
At the opposite end of the strip, cut a slit approximately the width of your stud. Slide the last stud through to close. If it doesn't fit, you may need to cut the slit a bit wider.