A new family is moving across the street from us. They came to our ward (congregation) on Sunday and her daughters had their hair done like this. They called it butterfly hair, because it looks like butterfly wings.
Divide the hair into four ponytails.
Braid each ponytail down to the end.
Secure with an elastic but before you let go, take the elastic and pull it up over the original ponytail.
Repeat with each braid.
Top off each ponytail with a pre-made ribbon.