A one-step method of making a necked-bonded laminate, wherein the layers of the laminate are formed and laminated within the same process. The method includes forming a nonwoven web, necking the nonwoven web, and immediately feeding the nonwoven web into a laminator where an elastomeric film is laminated to the nonwoven web. The elastomeric film may also be formed during the process prior to being fed into the laminator. Additionally, more than one nonwoven web may be formed and laminated to the elastomeric film during the process. The invention further includes apparatus for carrying out the one-step method.