It
is kinda kewl & can come in dead 'andy too!
Here's a couple of my recent projects with paracord, a Becker BK2, an SRK Carbon V (custom sheath) and a bracelet as you described. My wife made the bracelet after being unable to put up with my language when I tried !

My next attempt will be to whip a standard M4 fore-end.

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ImageShack.usI carry a spare 50' or so wrapped around a piece of card in the bottom of my backpack too.