Continue to repeat the previous step until you are down to as many stitches as you cast on at the beginning of the bind off (in the case of this example, that's 3).
Slip the stitches back to the left hand needle one more time and knit them all together. Break your yarn and pull it through the remaining loop.
If you have an even number of stitches left you can also graft the tube closed, which will allow it to keep a slightly more rounded shape on the end.
This method of binding off is very time (and yarn) consuming, but it also makes a great finishing touch for a pocket, collar, button band or anywhere else you like.
I-cord Bind Off Tips
This bind off can get pretty tight, causing the work to pucker. If you're having trouble, use a needle a size or two larger than the one your worked your project with in your right hand to keep the stitches loose.
Remember, however, that you are knitting an I-cord, so the first stitch of each row needs to be pulled tightly enough to keep the tube closed on the back side.

