In high school I worked summers at an engineering firm in Austin, TX. Given the high number of rubber bands in the office for blueprints, there were lots of rubber band wars. Here is the secret to shooting a rubber band well.&
The key to shooting a rubber band well is unequal tension when it is fired. That sounds strange and counterintuitive but trust me, you will be able to shoot a rubber band 20ft and hit exactly what you want with practice.
Flash Video Training Rubber Band Shooting 101
In the video, one side of the rubber band has more tension than the other. When released this forces the rubber band to rotate as it moves toward its target. The rotation lowers the drag and generally makes the band more aerodynamic. The rubber band will go almost 3x as far with a much higher level of accuracy.
It takes some practice to get the technique down, but in time you will be a jedi master of rubber band shooting in your office. Just make sure you use good rubber bands, the cheap ones will break and backfire using this technique.