This was found in Llewellyn's 1996 Magical Almanac:
A pentacle dream catcher is not difficult to make. It requires a circular ring; even a large curtain ring will do. You will also need some thread, string, or heavy crocheting thread to weave the design upon this ring. If you really want to be decorative, you can string tiny beads on the thread and attach little feathers where the string is wound around the ring.
To begin, tie one end of the thread to the ring. Wind the thread around the opposite side of the ring three times at a slight angle from the original attachment, pulling it tight. This will be part of the left leg of the pentacle. Each time you attach the thread to the ring, wind it three times.
Now wind the thread about the ring a short distance from the 1st tying. Your design should look like an inverted V-shape. Pulling the string to the let side of the ring, wind it about the ring a little more than half-way up the side. Adjust it until it looks like the lower angle of the cross-arm of teh pentacle. Now stretch the thread across to the opposite side and wind it about the ring. For the finishing angle, pull the thread back to the point of the beginning.
If you carefully check the angle of the thread each time you prepare to wind it at another point on the ring, you can adjust the design. Make a small loop for hanging at the top of the pentacle.
If you want to string beads on the thread, do it on each section before you wind the thread around the ring. I've seen one pentacle dream catcher decorated with a Samhain artificial cobweb and a tiny spider in the center.
Dream catchers do work. They are symbols of personal control over dreams. And the subconscious mind which creates dreams only understands symbols."