Simply take each end and wrap it around any part of the waist and wear it as a skirt.
Same as skirt, just wrap it above chest and wear it as a dress.
Take each end and wrap from behind. Take each and and cross infront of chest and tie around back of the neck. Belt it at the waist for a more fitted look.
Start from the back and wrap the right side across the chest and through the hole ( These Free People dresses have a small hole for styling). Take the left side and drape it over the right shoulder. take the two ends in the back and tie it for a finish.
These are wrap arounds by Free People, and are very neat in the many different ways they can be worn. Other brands make wrap arounds like this, but I found mine at Free People... and it was on sale... nothing better than that! These are a few different options in how it can be warn, but feel free the get creative and try any style.
UPDATE: Nordstrom rack is currently selling the one in style 1 and 3 for $39.99 as of 2-7-12!