Ideally, one personally binds the Daled Minim in the Sukkah after midday on Erev Sukkot.
Most have the custom of using Lulav baskets, the Chabad custom is not to.
According to the Chabad custom, five rings are used when binding the Lulav. These are all prepared before binding the Lulav.
Two rings are placed on the Lulav itself. These are positioned so that the Hadassim and Aravot will obscure them (at least partially).
According to Chabad, three rings are used to bind the lower end of the Lulav with the Hadassim and Aravot. These three rings span no more than a Tefach (8cm). With the Lulav lying horizontally and the spine facing upward, the Hadassim are positioned, one to the right, one to the left, and one on the actual spine, inclined slightly to the right. [The same pattern is followed for any additional Hadassim.]
One Aravah is positioned to the right of the Lulav, and the other is positioned to the left. The Aravot should be obscured by the Hadassim.
It is preferable that the bottom of the Hadassim and Aravot should be flush with the bottom of the Lulav.
When binding, one must ensure that the Lulav spine extends at least another Tefach above the Hadassim and Aravot. [The Lulav spine ends at the point where leaves no longer branch out of the middle leaf.] If necessary, the Hadassim and Aravot may be shortened, ensuring that they remain at least three Tefachim (24cm) in length, as measured from the top of the stem to the bottom leaf.
Shortening the Hadassim and Aravot must be done from the bottom of the stem. If it is shortened at the top, the Aravot are Passul, and the Hadassim should not be used unless there are no other Hadassim available.
If the Lulav was not bound on Erev Chag, or became undone, one may not make rings on Chag. However, one may wrap a Lulav leaf around and around, and insert the tip into the makeshift