Each color can be divided into two parts: 4,0; 3,1; and 2,2. The latter two can be crossed with each other to get four combinations (given that color matters); note that the order is irrelevant because the bracelet can just be flipped over. The former one can only be combined with "itself". Subtotal: five.

They can also be divided into three parts: 1,1,2. Together there are just two options, the 2's are next to each other or not. New subtotal: seven.

Finally divided in to four part, yields an alternating color bracelet. Grand total: eight.

[Bella, if this is how you solved it, forgive my repetition -- I do not have members' access to your full articles. Aaron]