Sure, but the animation of the wiki page is wrong. The cable that ends at the bottom of the picture is fixed there, while the other end twists. That will result in a twisted cable.
I tried it and it works. The animation uses belts that are very flexible. With a real belt I needed to give it a shake to make it untwist itself, but it does work.
It is indeed easy to twist the belt until you have the hang of it.
I think the animation is a bit deceptive because even with elastic bands you'd have to provide some way for the correct untwisting to occur. In the animation it happens 'automagically'.
(update: I was wrong, not the wiki page)