Scrunchy

[Julian]

a ponytail holder or [hair tie], often very decorative with gathers. Can be solid or [patterned]. Usually made of fabric. Name comes from Scü[nci], a company which makes many types of hair products including ponytail elastics, etc.

[Tanya Shivari]

Making a loud crunching noise when crushed or compressed.

[Lizzy Liz]

a piece of elastic (= material that stretches) covered in often brightly coloured cloth that is used to hold long hair at the back of the head