I used a simple "noose" wrap on this one. Ideally, the leather would have been longer to cover more of the large loop. However, I find I can slide this one back and forth so there's no buildup underneath the wrap. Also, I put a few drops of gun oil on it to both color the wrap darker and make it a little more pliable (only had the rawhide you use to re-string a baseball glove).
Basically, you make a loop and lay it on the lever, with the open end at the trigger guard and the closed end towards the stock. [Of course, you could do it the other way too.] If you have a long enough piece of leather, just make the loop cover as much of the lever as you want. With a fixed piece of leather, you may need to adjust.
Begin wrapping at the trigger guard, and work your way back to the closed end of the loop. When you reach it, insert the end of the leather into the closed end of the loop. Then pull on the tag end of the leather, back by the trigger guard to close the loop on the other end of the wrap. Snip and you're done.
A couple of points. Don't wrap too tight. You have to pull leather through leather around corners/curves -- too tight and it's difficult. You can leave about an inch extra on the stock tag end. Then when you pull the other tag end, you can bury the closed end of the loop and the other tag under the wrap. You can also snip the tag end by the trigger guard to be short enough to fit under the wrap. I didn't do mine this way since I didn't want to create the little bulge that would result from burying it. Because I had a fixed length of leather, I had to re-wrap a couple of times until I got the loop length such that there was only a small tag end to go in the loop before I pulled. I wanted to maximize the area covered.