Eyelets and Grommets
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Eyelets are the perfect finishing touch for anything that requires lacing.  They are versatile and easy to install.  Appropriate uses for eyelets (also sometimes called grommets) include: Yuna's armbands, hood string channels and fake boot "covers" (what you make when you can't afford real high, lacing boots like Yuna's). 
First, a package of small eyelets usually comes with 24 eyelets and 2 tools.  The tool to the left in Picture 1 is the hole-punch.  The one on the right is the one you use to mash the back of the eyelet flat against the fabric.
Firstly, mark where you want your eyelet to go.  If you're doing a row of eyelets, make sure they are evenly spaced apart.  Then, using a hammer, punch a hole through your fabric.
The hole will look something like this.  Since I chose some yellow vinyl to test on, the hole came out very neat.  It may not look so great in a fabric prone to fraying.  Don't worry, though.
Press the eyelet through the fabric so that the rough side of the eyelet is to the back (wrong side of fabric).
Using tool #2, insert the tool into the eyelet (it will fit just right), and give it a swift whack with your hammer.  Make sure you work on a hard surface that can take a bit of damage.  I usually do eyelets on concrete floor.
After you mash the eyelet's back so that it lays flat, you are done!  This is what it will look like.  No raw edges, and a smooth passage for lacing.  Voila!
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