I LOVE doing weaving projects. It is one of the few rare times where it is silent in the art room. The kids really get into it and love it. To introduce the project we went over the vocabulary of loom, weaving, warp, and weft. I also showed them a quick powerpoint on the history of weaving, just to show them all the different types of looms that weavers use. Day one we "dressed" the loom by attaching the warp strings. The following 2 (or 3) classes the kids just wove, and when they got close to finishing up, I had them tie off their weft string and color in the rest of the craft circle with markers using colors that they had in their weaving.
*Mr. E has a great tutorial on circle weavings that I followed and step by step directions on how to attach warp strings. I did a demonstration of how to attach warp strings using the Elmo and also doing it in small groups. I had the step by step directions on the overhead as well. Getting the loom all ready was definitely the most challenging part of the project, but they did great.
http://artwithmre.blogspot.com/search/label/Weaving (link to step by step directions)