For me, looping is recording yourself live "on the fly" and playing
along with the resulting loop of recorded material. You can add
more parts to the loop at any time. For more information on looping:
€ Website devoted to looping of all types and styles: Loopers Delight
€ Article by Peter Berryman titled: Looping In Public
My present and simplest acoustic guitar "looping" setup: a Boomerang
and a volume pedal.