The Rambam, Gemara, and most of the ge'onim presume that you will be tying your tzitzit with hulyot. However, they often describe tying the hulyah after the windings.
This "tying," how is it done? It's common nowadays to do a double knot, and many interpret the "tying" to be of the double knot variety.
Others interpret it as winding the shamash around the strings, tucking the shamash under the coils and pulling tight. In essence, the chulyah is not only 3 windings, but it is also the knot. This is how the Yemenites do it.
If one were to tie according to the idea that the knot mentioned by the Rambam is a double knot that we know today, it would like the tzitzit that are second from the left. If one holds that the chulyah is the knot, then it would look like the tzitzit on the far right.
Where is the source for the divergent opinions on the knots? Which knot is intended by the Gemara, Geonim, and Rambam?