pamtnman,
Your description sounds like you might have one of the "quick shortening" slings( my personal favorite). If so the end with the "Chicago screw" goes on the butt stock swivel and the one with the "wooden peg" and two keepers( one of which should be fastened to the sling at the "peg") should go through the barrel swivel. It should be arranged so the main part of the sling is on the outside and the short end at the "Chicago screw) folds under( toward the stock). You have to "thread" the sling through the barrel swivel, the loose keeper, then the keeper fastened at the "peg" and then the end is passed through the butt stock swivel and fastened with the "Chicago screw"( all mine have a simple "button" instead). BTW if the loose keeper becomes misplaced, it won't hurt anything. Of course this whole thing depends on the sling actually being a "Quick shortening" one. Sharps 4590 suggestion to post a photo would clear that up. This type sling functions only as a carrying strap, fully extended until you get to the stand or stalking; then it is quickly shortened to get it out of the way.
Mike