I've heard of it but didn't understand how it worked...this has probably been posted but for those that don't know. ..video shows how to peg your sliding sinker with a rubberband.Skirt material is substituted for the rubber band, but the line pulling it through had a tendency to cut it.

I used to do this with round rubber but after having to heat up a paper clip over and over to burn the expanded rubber out of my pricey tungsten weight, I switched to bobber stops and haven't gone back since.