Fold the dollar bill with your fingers between folds. Look down at the top edge of the bill, it should resemble the letter "S."
Attach the first paper clip to the back and middle sections of the "S" of the folded bill. Attach the second paper clip to the middle and front "S" of the fold. One paper clip should be seen from each side of the folded bill.
Grasp each end of the bill with each of your hands. Slowly pull each end apart, unfolding the bill and slowly moving the paper clips closer together.
Pull until the paper clips come together in the middle of the bill. The bill should be completely unfolded at this time, and the paper clips attach to each other and "magically" jump from the bill.
Practice this before trying it in front of an audience. Putting the paper clips on the right folds is important if you want them to connect and magically jump.