Okay I think I kinda got it to work. I had an issue though. I got the first strap to work exactly how I wanted but now the second strap isn't quite working the same. The IK at the back of the first strap kinda has this damping effect so it doesn't move too close to the rotation bone. But when I tried to apply the same "clamp" to restrict the movement on the second back IK, it automatically moves that bone on to the the rotation bone making it move faster and act not as intended. I originally wanted the bottom strap rotation to parent to the lower leg just like how I had the top strap parented to the upper leg but it seems the transform restraint doesn't even move at all. Here are some gifs of what I mean ( in these gifs the bottom knee strap rotation is parented to the lower leg and the back IK bottom strap is parented to the Upper leg):

Here is what my bone hierarchy and transforms look like. I noticed when I try to change the transforms on the bottom bone it automatically moves the bone in setup instead which makes the animation start in that weird position. Thank you so much for your help so far!

Here is the bone hierarchy since it didn't want to load on my last post

Unfortunately switching the parent bone just made it worse. I tried to adjust the transform constraint because the parent bone change and it just ended up moving the bone in setup mode even though the leg IK wasn't moving at all. I made sure to click the match button before I made any changes too.
I tried to replicate what I did on the left side to the right knee and it had the same issue of the bones moving/scaling in setup mode when nothing else was moving. I made sure to "match" the bones every time, deleted the constraint and recreated it several times.
The back of the Knee IK also just moves really fast/ collides with the rotation bone when I attempt to recreate it on the second leg. I'm not even sure what I did to get the first IK bone not to move as much. That IK Mix influence was still at 100%.
I'm not sure if its just a bug with the new beta but I don't think this happened with the stable ver of Spine. Unfortunately I can't downgrade my file since I already saved in the latest beta yesterday.

Thank you for replying so fast!

Nate Alright! I emailed the file to your email! Let me know if there are any problems opening it.

Thank you so much for helping with this! What you gave me was pretty much perfect. I just adjusted the rotate offset to get both the strap to come together at the ends.
Here's what it looks like with the images!

Just a quick question, I saw that Local was check in both options and Clamp was added. Does the local just make sure it transforms according to the relative position of the bone it's parented to? And I'm assuming that the Clamp is using the values on the right side of the properties to refer to, right? How did you arrive at those values? Or was it just trial and error?

I just ran into another issue when I was messing around with the file. It seems like the Knee bone is not working anymore. Before the Spine update I was able to move the knee bone around to deform the leg when switching to font facing and side. Now it seems locked into place. And when I did get to move (I can't quite remember how I did it and I haven't been able to replicate it to show a screenshot), the bones were not following each other like they were supposed to. I followed this tutorial on how to get the knee working before the update.

Nate Thank you for the explanation! This should help me a lot when I work with transform constraints in the future!

Misaki I just ran into another issue when I was messing around with the file. It seems like the Knee bone is not working anymore. Before the Spine update I was able to move the knee bone around to deform the leg when switching to font facing and side. Now it seems locked into place. And when I did get to move (I can't quite remember how I did it and I haven't been able to replicate it to show a screenshot), the bones were not following each other like they were supposed to. I followed this tutorial on how to get the knee working before the update.

Misaki Sure! I will email you the file with just the left leg.

Misaki Thank you so much for your quick reply! I will take a look at the file today and see if I can fix it!

Misaki Just checked over the rig and the tutorial and looks like one of the bones wasn't parented correctly. And changing the translate values fixed it! Thank you!