This much we know!
The friendship bracelet is always available and is free! This much we know...
Use the map of Club Penguin to go to the town. When you are at the town go inside the coffee shop.
Go upstairs in the coffee shop and you will be in the Club Penguin book room.
Click your cursor on the book icon in the right hand corner of the book room screen or alternatively click on the book shelves between the fancy gas lamps.
Two book shelves appear, they are the library in Club Penguin.
The first book on the shelf is a thick blue book called Rockhopper and the Stowaway.
If you read through the whole book, or skim read it or just flick through! on the very last page, underneath where it says The End, is a beautiful, brightly coloured, friendship bracelet.
Click your cursor on the friendship bracelet and you will get offered the Club Penguin free friendship bracelet!
Here is a link to my Club Penguin Where Is The New Pin Hidden page, it tells you where to find the new pin!