My wife is a weaver and has used many different types of looms and different techniques. I still had to look those up. Nope, not a good idea.
Yes read Aart's link. It shows good details. I'll repeat because it is important, check the bands regularly. Their legs grow and bands or zip ties do not stretch. I personally prefer 7" zip ties on adults since I can see those so much better (personal preference) but for chicks 4" would be best.
I don't know how many you are talking about or what information you are wanting to keep. You'll need to come up with your own system to track the info you want. I use the color on the left leg to track year of hatch and use various colors and combos on the right leg for individuals. Before it comes up I have used red zip ties with no problems. Some people worry about that.
Another option might be food coloring. You will need to maintain the dye as they shed down and grow feathers. They also go through juvenile molts. A green spot on the forehead is a different chick than one with a blue spot. A spot on the left wing, right side, or another body part can be part of your code.
Some people say they have used fingernail polish on their claws. Different colors on different toes create a code. I don't know how long it lasts, again you need maintenance as it wears off.
Some people use toe punching. Google that to learn the technique. They punch a hole in the webbing between their toes. Holes in different webbing creates your code. It's supposed to be permanent but you probably have to catch them to identify them.
I don't know what info you are wanting to keep or how many, but you have several options. All except toe punch requires maintenance.
. As the last person said loom bands don't stretch, perhaps its called something different is US i'm from UK
