You will need:
1 inch wide elastic enough to go around your waist (pull it a little tight when measuring)
Strip of material approx. 3 times as long as waist size (you can also go with 2.5 times as long for a less full skirt); width of you material should be the length you want your skirt plus 4 inches
For this example, I did a coordinating navy dot fabric as trim on the bottom and top. If you would like to do the same, you will need...
Two strips of contrasting material the length of the skirt material
One strip should be 4 inches wide
One strip should be 6 inches wide
For my skirt, I used 1 yard of the green fabric and a quarter of a yard of the navy dot.
In order to get a strip of the green 3 times the width of my waist, I cut the yard of green material in half, then cut the two halves so they equaled the amount needed. I then sewed them together to get one long piece and then sewed the two ends together so I ended up with a loop of the green material, like this.
One one side of the loop, fold the edge down two inches and iron. This is going to be the waist of the skirt. (If you weren't going to use the contrasting material, you could sew this up right now to thread the elastic through for the waist of the skirt.)
Here is the top edge after the elastic is in, you can see the bit of navy dot material peaking out.
Next fold the bottom of the skirt up 2 inches and iron. Take the six inch wide piece of navy material fold and iron in half. Pin this to the bottom of the skirt, depending on how long you want your skirt to be you can have more or less showing. I have two inches showing on mine.
Here is the finished skirt! My only regret is not putting pockets in it, oh well, next time!
P.S. This also makes a great skirt for a little girl too!