How to properly thread (textile) pedal straps
Doing it like the first picture shows is definitely not a good idea. The strap should be the other way round with the buckle as close as possible to the pedal's body. Reason 1: it can be tightened by pulling the end up and released with a the flick of the thumb on the buckle. (The reason for this black plastic end of the buckle) Reason 2: The end of the right strap falls over the foot and may be caught between chain and chain-wheel. The end will hardly drag on the ground.

In the days where I used straps I used waxed string to tie the part going through the pedal to the thin post which is more reliable than a 360° twist. Today I would use a small zip-tie.

The strap in the second picture isn't properly routed over the roller of the buckle. It may just be a promotional picture with the end of the strap photo-shopped away.

And last but not least: if the strap is really too long cutting off the excess is still an option.