Scrunchie (noun)

A hair accessory used to gather and tie up long hair, typically made of a piece of elastic with a fabric or ribbon covering.

Origin:

A portmanteau of scrunch and bunchie.

Examples:

1. She wore a pink scrunchie to hold her hair back.
2. She used a scrunchie to put her hair up in a ponytail.
3. The scrunchie was a popular hair accessory in the 80s and 90s.
4. She wore a scrunchie to keep her hair out of her face.
5. She made her own scrunchies to match her outfits.