This bow is super cute and fun to make. I use 2 colors of grossgrain ribbon, fused together and then construct the cheer bow. This bow is only 3" from loop to loop, but almost 5" if you include the tails.
This bow can be made to match your school colors or sports team. I attach all my bows to alligator clips, but this bow can be attached to a pony tail holder also. Find it in my Etsy Store.