It looks perfectly constructed to me. It must be the tightness of the wrap and/ or the way the ribbon is pinched where it's wrapped. I thought that if you used a natural fiber thread (not dental floss or fishing line) maybe if you wet it, it may have a little "give" and you could seperate the loops a little at the base.
If you aren't afraid of ruining it, you could also use some tweezers or something and try tugging the loops out of each other down at the base on both sides of the thread. Do you see what I mean about where they're pinched? I don't know what to do about the pinching, other than wrapping looser.
When I said to spray it when it would hold its shape for a little while, I meant with starch or hairspray. I have never done it, but you can use the search function... it seems like there's a discussion about that every few weeks.
I went in search of one of mine and the camera, yesterday; and got sidetracked... I'll try again today. Maybe I can use mine to figure out what I was doing wrong...
I hope this helps some.... I'll be off and on all the day.... I really should be getting some things done... BESIDES singing, dancing, and reading with the DS. Oh well, some of us have it like that... yay, me!!! LOL!