In this Adreno 'How-To' video, Adreno's Trevor Ketchion talks about how to make a spearfishing muzzle bungee.
Things you will need:
10mm rubber
2mm Dyneema
Constrictor cord
Lighter
Scissors
Firstly, using your Dyneema, you will need to tie a simple loop knot. This knot will be used as a hump so the constrictor cord doesn't slide out, similar to a bridle in a traditional speargun rubber.
With the other end of the Dyneema, you will now need to feed this all the way through the rubber, until you get to the knot. Pull the knot into the rubber, only enough so it's just past the end of the rubber.
Now tie a constrictor knot around the end of the rubber. After you've tied the knot, trim the ends of the cord and burn the ends so it doesn't slide.
The next part is to get enough Dyneema into the rubber, so it has room to stretch, so holing the rubber so that the Dyneema can still slide within it, stretch the rubber as far as you can. As you stretch it, the Dyneema should be fulling the rubber. Once it's fully stretched, pinch the dynemma and allow the rubber to shrink. Now you have all that Dyneema cord inside the muzzle bungee. This allows the bungee to freely stretch without the Dyneema stopping it.
To finish it off, tie the same loop knot in the other end, stretch the rubber back out to pull the newly made knot under the rubber and then tie another constrictor knot around the rubber.