To tie this barrel sling, tie a Figure 8 stopper knot laid very loosely on the ground so that the periphery of the knot is larger than the base of the object you wish to hoist.  Set the object on the highlighted center portion of the knot and draw up the rope around the sides of the object.  Afterward, you can either bend the free ends together or tie them as if you're completing a loop knot.

There is a more basic barrel sling, but this one provides extra stability and is easier for most to remember since it uses the Figure 8 stopper knot that most people already know.

Since barrel slings like these do not provide positive protection from the load slipping through a gap, they should only be used for non-critical applications.

Related Page: A Box Sling, Cat's Paw

Figure 8 Barrel Sling