I used crepe dechine fabric, 1.6 m width and 3.5 long with 3% elastine. In general, the fabric should stretch a little bit in length and ok stretch in width. For such type of hammock, it’s better to take stretchy and wide fabric as wide as your hight. There are special fabrics aerial silk, specially made for aerial gymnastics or dance, and is perfect for yoga hammocks. However, if you just need to hang upside down to improve your spine, you can save some money and choose something from a regular local fabric store. My hammock costed me approximately 20 dollars 
Be sure to sew zig-zag many times to make your straps very strong, use high-quality thread.
Disclaimer: this is an instructional video!
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https://amara.org/v/GT4n/
Post time: Jun-12-2017