This guy is awesome!
It’s a simple device that slices PET soda bottles into uniform width ribbons that are quite strong and heat-shrinkable.
Turn on the English subtitles via “cc” (if you aren’t already fluent in Russian) http://youtu.be/hQeeJEpBYsg
This site from Brazil might be the first to come up with the idea/model and has plain text with a few pictures (though no specifics for making one) for SteveU, MikeL, and others: U T S U M I - Artesanato com PET