My version:

Reference images:

Analysis (whoo, scientific): I finally found a couple more pictures of this style, so you don't have to take my word for most of this anymore. The front half of the hair is pulled into a half ponytail and from there into a braid. The bottom half is also braided, and the two braids meet in the middle of the head (forming a capital letter B if you're looking from the side). A metal clip holds the hair in the middle. At least, that's how I remember's been a while.

Directions: Put your hair in a half ponytail and braid it. Then braid the bottom half. Make each braid into a loop, having them meet in the middle. Clip, tie, or otherwise fasten the ends of the braids together. If your hair is at all long, you're going to have a lot of braid left over. I just coiled mine out of the way as best I could and pinned everything to hold. That's it!