Since 99.9% of webpages show the incorrect way to wear a 5 ring strap I’m posting this up for posterity. The functional way to wear a 5 ring strap is shown in the top picture. The bottom pic shows the incorrect method that nearly every web page describes.
This irritates me so much because if you loop it the incorrect way the bottom flap serves no purpose whatsoever. It ends up being a 3 ring strap made worse by an extra chunk of nylon and rings dangling off the bottom.
Looped the correct way, the bottom strap helps to take tension off the springbars if the strap gets yanked. That’s the advantage of a 5 ring over a 3 ring.
Full credit to user Uriel at tz-uk.com for the clear pics and explanation.