The Australian
slang term for a "jelly bracelet".
They
may either be the generic solid colored plastic bands, or the relatively current trend in New South
Wales of using the
flat sleeve from the inside of a Coke bottle lid. They are crafted into bracelets by removing the centre leaving a 3mm
rim, sucking on them until they're warm and soft, and stretching it slowly around the hand until it's on the wrist.
The meaning of fuck-me bands is quite blatant - they are worn predominantly by prepubescent sluts and skanks, and if broken one should copulate with the individual who broke it.
Many Australians wear these bands for years, and eventually they have grown around them and can't remove them. They don't take the "purpose" seriously, but can often be seen as
immature simply for wearing these bands.