I was sitting at my desk and (miraculously through the mess) I spotted this fab multi-pattern roll of washi tape and a blank pencil and I thought they might make a good pair. And, indeed they do! Not only that, it's pretty much the simplest way to make a washi tape covered pencil that I've come across.
All you need is a pencil and piece of medium width washi tape. This one is 28mm wide. Cut a piece of tape the same length as the wooden part of the pencil. Lay the pencil on the piece of tape, lining up the tape with the ferrule*, and then wrap the tape around the pencil.
(I detail two other washi tape pencil ideas in my book - they're suited to all sorts of tape widths rather than such a specific one).
*Ferrule is the fancy name for the metal ring connecting the pencil to the eraser.