Glenn Pendlay had some success treating tendonitis using compression bands.
A tip he got from Kelly Starrett who talked about it here, here and here.
Check out more drills on Mobility 101.
Kevin Cornell seems to be not exactly overjoyed about Glenn having found out about this treatment 🙂
Update:
Kelly Starrett also has a similar video.
Using compression band to treat elbow pain.
Update #2: more compression band torturing