J.S.
I have been told you don't want the cheap one from Wal Mart, you want the one from Michaels. I know nothing really because the sister in law dispensing this advice is the one getting it for my daughter for Christmas.
One of the things she said was the one at Michaels comes apart so you can add to it or change the pattern, the cheap ones can't do that.
She also said there is no difference between the cheap bands or the more expensive ones because they are only on the loom, stretched, for a short time. Once you make them they are just woven, not stretched.
I am sooooo looking forward to having tons of little bands all over my house!