I started witha piece of hemmed fabric 120 x 53.
Next I divided the end into thirds and placed a marker one third from the right edge.
Then folded each side OVER to the mark.
Now fold the newly created edges UNDER to the mark. Use some kind of clip to hold in place.
Fold UNDER again.
Fold short side UNDER 1 more time and long side 2 more times.
You should have a thick set of folds and a thin set connected by a thin piece of fabric. Fold the two sides UNDER bringing them together.
go to the other end and do the same thing. marking 1 third from the right side, making it a mirror image. Whip both ends however you prefer. The edges of the fabric will be to the outside of the folds and you can pull them out a little farther than the rest of the folds to raise the sides a little. Remember the more you pull the sides the less useable fabric you will have to lay on.
You can see in the last photo that folding this way causes the centerline of the fabric to run at a diagonal across the hammock, creating a little more slack on one side, and the opposite side on the other end. This method works pretty good, but I think there must be a better way. If you see any improvements, please post! Comments and criticism welcome.