No, it isn't the bias tape maker. That would make three folds in your fabric for four layers. You want only two layers in your binding strip.
I've seen that tool, but don't know where to find it now.
Some people make their own "binding folder". They put pins in the ironing board under which the binding strip gets pulled as it is ironed. The pins are the correct distance apart so the strip has to go the correct way.
I hope someone can find the directions to do this.

June Taylor has a binding tool but it comes with it's own ironing pad. They cost about $15. I think I also saw the tool you are explaining but don't remember where or what it was called. Sorry.

I do mine with pins as the folding tool is quite expensive here. This works very quickly and I can do single or double fold. I made a quick tutorial...
https://www.quiltingboard.com/tutori...ml#post7856435

I have the Simplicity Binding machine that folds and presses the strips. It's a time saver. I can make a lot of binding at one time. I cut strips 2 1/4 wide. This gives me double fold binding either straight or bias, whatever I cut. I take it to sew days and everyone brings their strips to make binding.

I bought something that sounds like what you are describing thinking It would make binding and it was a waste of money!

As an aside, I wanted to mention that for quilt binding it is unnecessary to iron a strip in half first. In fact, my binding goes on better when I don't iron first. This is because not ironing allows the fabric to fold over so there is a little less in the underneath layer and a little more in the top layer. I had read about this for years before finally trying it once myself. Finding out that it not only saved me time, but made my binding better, convinced me to stop ironing binding strips.

I love my Clover bias binding tools for making bias strips for applique, though.

https://www.youtube.com/watch?v=dmB0R-BRroA

Lena1952 this is the concept, but the tool I saw created a binding strip that folded the raw edges in toward the center. It came in a set of buckles...it was quite pricy, but the convenience might be worth it. I did see a video on it at the supplier's web site.

I hate it when I get lost surfing and don't save the page........

Thanks everyone.

I did some more surfing, but couldn't find the tool. However, I did see a variation of the two pin method that works on the double fold binding. Silly me... when I first saw the pic, I thought you were to run the fabric through the hem ruler; which could work I suppose. :0)

http://creativelittledaisy.typepad.c...ersion-of.html

Here's another video with guide marks. http://www.fromwootoyou.com/2012/12/diy-bias-tape.html

Although it is for bias tape you can adjust the measurement and folding for double binding.
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Found it!!! Sorta..... here is how you can make your own tool.

http://stitch-n-smile.com/how-to-thu...as-tape-maker/

Much cheaper than the plastic templates. Whew! Now I can stop searching.

I have every size of the clover tape makers and they work great for me. I am not sure what the problem could be with yours that it would not work?
I am so glad you found what you were looking for. Gee what a mess to try and find it again.

I have several in different sizes ... love them! not for quilt binding but for bias strips when doing applique, etc.