I have been exposed to 3 types of hammocks.  One was the ones with a frame around the bottom and tight straps under the bottom to make a almost flat bottom. These look more like tents hanging in trees and are roomy, allow gear inside and possibly big enough for 2.  The Clark is a pea pod type with built in pockets on the bottom.  The pockets allow for gear storage and help keep you warm on those chilly nights.  The hammock I own is a Hennessey.  It allows you to lie at an angle to the trees it is hanging from and this lets your body lay flatter. I sleep on both sides and my back.  The fly that comes with the Hennessy will keep the hammock dry but I like to have an area to keep gear dry and get dressed and even cook under so I made a large tarp that I like better.  I have made 2 of these tarps one for a friend. I used a Campmore 10ft X10 Ft for one and a 9ft X 12ft for the other.  Both work well.
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Picto035C
To make the tarp take 2 pieces of web strap about 3 inches long each and sow each into a loop.  Then attach one to each side of the tarp in the center.  That’s it you’re done.  You will also need 3 ropes 1/8 diameter nylon or parachute cord about 30 to 50 ft long each. You will also need about 16 Clothespins. The ones with a spring in the middle.
Setup the tarp.
I look for 2 trees about 15 to18 ft  (5 paces) apart. Tie one end of one of the ropes as high in one of the trees as you can comfortably reach.  Run that rope through the loop that is sown to the outside of the tarp and on to the other tree. I pull this rope fairly tight and tie it high in the second tree.  Take rope 2 and tie it to one of the trees about eye level Run this rope through the tie eyelet in one of the corners then through the loop sown to the underside of the tarp and on through the far corner eyelet and on to the other tree.  Tie it tight at about eye level. Spread the tarp out and slide back and forth on the ropes until it is centered over where the hammock will be. Put about 3 Clothespins under the tarp on rope 2 up against the corner eyelets on both corners to hold the tarp out.  Run rope 3 through one of the unused corner eyelets and under the tarp through the sowed in loop and on out through the far corner eyelet.  Let the weather tell you where to tie rope 3 ends. If it’s a hot night tie them far out or chest level to a tree.  If it’s a rainy windy night tie them near the hammock. Again use about 3 Clothespins on each corner to keep the tarp stretched. I take 4 of the ¼ “ aluminum tent stakes and some times use them or a rock. I some times find a stick and prop one corner of the tarp up and sometimes I run a string form one of the side eyelets up or out into a tree providing better ventilation and view.
Setup hammock
Put the tree huggers around the tree so the ends are about neck height.  The ideal setup is to start with the center of the tree hugger on the hammock side of the tree at forehead level and spiral both ends around the tree ending about 3 to 5 inches apart on the hammock side of tree at neck height.  By changing how high up the tree you start you can adjust how near the ends end up most of the time.  You do not want the ends to be touching.  Another method (used in above and below picture) I frequently use is to run the hugger around the tree and put one end through the loop in the other end (a choker to a rigger) and pull it tight.  Then hang the hammock form the end that went through the other. The standard hammock knot is very difficult to use when tied to a single strap and I have come up with a alternate knot that works well.  I will cover that knot later. I usually tie the first end up with the hammock too close to the tree with a single half hitch so it will slip.  Then go to the other end and when I pull the rope tight the hammock will rise off the ground but will slip until it is at the correct position under the tarp.  Then I go back and retie the first knot correctly and I like it tight.  Usually I set on the hammock at this point to stretch it and then retie one end to get the hammock tight. I took the side shock cords and looped them through a “D” ring and back to the hammock “D” ring 6 times to get a stronger pull on the sides.  With a 6 ft cord on each of the “D” ring they can be tied out and down each about 5 ft from the center of the hammock.  At this point the hammock needs testing.  Get in roll around make sure it will hold you with your eyes shut.  This test will take form 15 to ???? minutes.

Alternate hammock Knot
To be a good hammock knot the knot needs to be easy to tie, not slip and be easy to untie after the hammock has been hanging from it.  If the ends of the tree hugger are 3 inches or more apart I use the knot that is shown on the bag that the Hennessey comes in. The only time I use the alternate Knot is when tying to the loop in the end of a tree hugger.
Step1
Put the rope through the end of the hugger and make a half hitch but do not pull it tight.. Leave a 2 – 3 inch loop.
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Knot58

Step 2
Continue wrapping the end of the rope around rope coming from hammock.  Make 8 wraps. Keep the wraps close together.
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Knot60

Step 3
Bring the end of the rope back through the first large loop half hitch and tuck it back under its self making another half hitch and pull it somewhat tight. Don’t pull till the knot bends.

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Knot62

Step 4
Make another half hitch over the rope coming from the hammock and pull tight.
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Knot63

Step 5
Make one more half hitch pulling the center of the rope through making a bowknot for easy untying.

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Knot64

Pull it tight.
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Knot67

This knot has never slipped on me and has always been easy to untie even after being rained on and up for several days.

Jimbo
I also like space above me for ventilation and being able to see out. That is why I prefer my tarp to the one that comes with the Hennessy.  I think I would prefer the top entry because of the ease of getting  the sleeping bag on top of pad and right side up with me in it. I would also like those under pockets for warmth.  The things I like about the Hennessey over the Clark is the flatter bed and being able to sleep on my side.  Actually I usually sleep half on my side.  In a hard bed I sleep either all the way up on my side or not on my side.  In my Hennessy I usually sleep with my shoulders at about 45° to the ground.
MagicPaddler

Excellent hammock primer, I enjoyed it even though I only use my Byer mosquito hammock if I can't pitch my solo tent under tarp?
I tie a similar version of your knot, but I don't thing mine has as many steps or maybe I don't recall until I'm actually doing it
 IC will tell you that one of the first thing you need to do when getting in to a hammock, is to make sure your big (_*_) is ACTUALLY in it before sitting down
IC/RANGER will attest to how important that is

MP, great hammock primer. I've never used one, but can see the appeal to those that do. I had to laugh though, when I saw the wrap-style set-up. I think you should officially name that set-up the burrito! Nice in-the-field modification though, proving that necessity really is the mother of invention.

And yes, I did witness ST's hammock gymnastics. If only he would have planned to do that flip, then I'm sure he would've stuck the landing!