Here is a quick guide to how to replace your vintage Masters of the Universe figures leg bands with new rubber bands, i have purchased mine from Collectors Platoon ( https://collectorsplatoon.com/ ) so with that here is my quick how to guide, keep in mind the tools I use could be swapped for items that may work better.
Step #1
Tools
Pliers
New band
something to dig out the old band
hot water
something to help pull band threw i.e string etc
Step #2 Remove the legs and place in your hot water to help make the legs pliable to remove the old rubber, 1-2 minutes should be enough
Step #3 Use your screwdriver or what ever you are suing to dig out the warmed up rubber and put each leg back into the water to keep warm as it will help to install the new band
Sadly I forgot to take pictures of the next few steps
Step #4 Use the screw driver to push one end of the band into the cleaned out leg
Step #5 Use tie a string to the other end of the band and then put it threw the opening in the waist opening, you can use the screwdriver or something flat to help push the end threw.
Step #6 Pull band threw and hold band with pliers then push the end into the warmed up leg, if all goes well Hordak stands once again.
Now that Hordak stands once more if you need any new leg connectors, stands for GI Joes be sure to check out Collectors Platoon