This hitch is similar in form to a Cow Hitch. If a barrel or other short cylindrical object can be lifted on its side, the Barrel Hitch can do the job of hoisting it.
Start with a strop or length of rope tied in a closed loop. Pass the end of the loop around the barrel and then through the other side of the loop. Spread the loops apart under the barrel for more stability.
The more you work with hitches, the more you should have an idea of what they can do, and more importantly, what they can do for you. Fastening a rope to something is key to using rope for holding and moving objects, and it is best to learn more than one method. Also, the skills you obtain for fastening rope to objects will play an important part in how to use rope for bindings.