Archie McPhee's wristbands, made from recycled paper?

I love my gray "ENNUI" wristband, Seattle awesomeness store Archie McPhee's answer to the ubiquitous Livestrong and Wriststrong bracelets, but somehow I don't think the gray rubber ring is actually "Made with recycled paper" as is stated on the packaging. It's the thought that counts?