Locate the pipe on the inside of the house that supplies the water to the exterior water outlet. The pipe is usually directly inside the house near where the faucet attaches to the wall.
Place the end of a roll of insulating foam pipe wrap on the pipe as close to the wall as possible. Wrap the insulation around the pipe, working your way back toward the interior of the house. Wrap at least 3 feet of pipe, if possible. If the pipe becomes inaccessible, wrap as much as you can.
Go to the outdoor faucet. If there is any amount of supply pipe exposed, wrap it with the insulating pipe wrap.
Place the rubber ring inside a protective foam faucet cover over the handle of the faucet. Pull on the rubber band on the outside of the cover to secure the cover against the faucet. The water outlet is now protected against freezing.