This key fob contains 5 colors and is similar to the 3 color one.
Step-3 is the most important, a bit of patience and you will master it.
Step-5 and 6 are the same just showing 2 different ways of inserting the inner cord.
The first option is to slide the inner cord into the first knot, the second option is to clip it with all the other cords then start the first knot around it.
Step-10 The clip can be removed, fuse all the loose edges and make some type of knot.