© 2015 Springer Science+Business Media Dordrecht We analyze the stability of naturally curved, inextensible elastic ribbons. In experiments, we first show that a loop formed using a metallic strip can become unstable if its radius is larger than its natural radius of curvature (undercurved case): the loop then folds onto itself into a smaller, multiply-covered loop. Conversely, a multi-covered, overcurved metallic strip can unfold dynamically into a circular configuration having a lower covering index. We analyze these instabilities using a one-dimensional mechanical model for an elastic ribbon introduced recently (Dias and Audoly in J. Elast., 2014), which extends Sadowsky’s developable elastic ribbon model in the presence of natural curva...