Chan Luu bracelets, typically around $295
My version using this tutorial (sorry the original link no longer works, but click here for my version of the tutorial with video), total materials = $16
I saw this tutorial and just HAD to give it a shot. My first try was an utter failure but once I got the hang of it, it got easier. One tip is to secure the leather laces to something so they're not flopping around when you're doing the weaving. I used a piece of cardboard and 2 binder clips to keep them stable and it was smooth sailing from there.
That said, I don't think I'm hip enough to actually rock the look...