A brief digression.
"Vectran? For a trapeze? Really??
Well, yeah. As I say on page one, this is a Frankenstein - I'm building it from the stuff I have lying around. And what I have lying around is 12-strand Vectran (which is the easiest rope in the world to splice) and black cotton sheathing for it. I do love having the kind of gig that has 3 metre lengths of 14mm Vectran in the offcuts bin. But yes, it is not an ideal solution, and the next version - when my boss says "Ok, how much do I need to spend to get a *real* trapeze?" will use 1" 4-strand cotton acro.
Step six.
Double brummel lock eye splice in the end that's going to be seriously worked. If you don't know how to splice, ask an adult :) I use the brummel lock here because I can afford to sacrifice strength for security - this rope is rated at something like 3 tons. The Brummel lock reduces that to maybe 70% - call it 2 ton - but it is physically impossible for the Brummel to slip unless you pass one end of the rope back through it. Which you'd probably notice.
Hanging!
Step seven.
Whipping and seizing! The rope is held to the eye using simple whipping on both sides. I have a penchant for French whipping, and it can be worked a lot tighter than simple whipping, so I've used that to lock the splice closed. Then to seize the black sheath to the inner Vectran, I've used French whipping again. In hindsight, I'd probably do one very long whip to seize the sheath and continue on to lock the splice. But this works. That's a mix of white SBN (Solid Braid Nylon), hideous green SBN, and black Spectra-core nylon sheath cord. This will all be covered with padding soon, so it doesn't have to be pretty. You may notice the reinforced welding. Both my boss and Nastya looked at the original and pursed their lips and shook their head. My boss I can ignore, but I fear the wrath of the tiny crazy Uzbekistanian whose life I am risking.
The other side, all in sexy black spectra, because hidden or not I like consistency like that.
Step eight.
Top rigging! Same French whipping. Again, next time I'll make one smooth whip to cover the rope and lock the splice. Apparently I have no photos, but the eye is locked to the rope along the sides as well, just like the bottom splices.
Step nine.
Padding! Padding is incredibly easy. I thought it would be complicated, but it's just soft yellow foam, about an inch thick, because that's what I had. It does need to be soft foam - closed-cell won't do. Those exercise/camping mats? No good. Cut and wrap in a cone, obviously - you want to pad the thimbles, because they're hard and knobbly, but you're really focussing on the 4-6 inches above the thimble - a nice solid wrap there. Hold it together with about a mile of athletic tape. 
Spongy giving athletic tape is better - the non-stretchy white stuff I used compresses the padding a bit too much, which rather defeats the purpose.
Step ten.
This step is pretty much optional for a training trapeze, but I like completed jobs, and I like velvet....
Mmm, velvet. This also is easy. Cut a rough cone of velvet, start at the top, fold both edges over and whipstitch. If I can do it, you can do it! This part of the project is where I nearly threw my hands in the air and outsourced to wardrobe, to be honest. But I'm glad I persevered - when I hung the trapeze it was an amazing feeling knowing that I had done everything myself.
Done! Try to keep the seam on the outside, says Sasha. Also, I turned the top end of the velvet back inside the tube and whipped it to the rope so it doesn't slip. Hopefully.
Is it not nifty?
Then you just have to hang it.