1. the Sun's differential rotation causes the plasma near the equator
to undergo many more rotations over time than the plasma near the poles;
the plasma then drags the magnetic field lines "sideways" much stronger
at the equator than the higher latitudes causing the original dipole field
to be wound around and around by the differential rotation
2. as the process continues, the convection cells twist and roll
the highly stretched field lines even more until "knots" appear in the
field lines which erupt through the surface of the Sun impeding convection
and cooling the photosphere at the points where the strong lines pierce
the surface, giving rise to sunspot groups
3. finally, as magnetic field lines of opposite polarity from opposite
hemispheres meet at the equator they "cancel out" (not part of the rubber
band analogy) in effect "untangeling" the axial component of the field
lines and leaving the original dipole field, but now reversed
From SOHO (ESA & NASA):
http://sohowww.nascom.nasa.gov/gallery/Movies/animations.html