Then fold the remaining bill exactly in half lengthwise three times.
Now you have the pieces.
This picture shows the flat bill wrapping over and trapping the end poking out from the left on the picture above. Make sure that this wrap is very tight, that the legs are squeezed tightly together, or you won't be able to make the body stay together (described later).
This is a pretty good, tight wrap. If it doesn't look like this, don't continue. Work on it until it is solidly tight.
Making sure to hold the wrap tightly closed, turn the whole thing over in your hands. While squeezing the side tightly together, kink each of the legs outward, four on each side.
Fold a ninety degree turn into the flap over the end, and then fold the remainder down between the split legs. (Just look at the picture.)
After going between the legs (top of this picture), wrap the flap around the other end and around under.
Okay, this is a rotten picture, but... Take the remainder of the tab (bottom of previous picture, middle-to-right this picture), and tuck it between the legs and the outer wrap on the side that the outer wrap is only one deep.
If all has gone well up to now, the body will hold itself together based on the previous step. For each of the eight legs, bend back toward the body.