"LANYARD": Clipped to a knife or other tool
and an anchor point on the user. A lanyard usually has an over-all length of 30 (thirty) inches, or the users inseam measurement, ± 1 or 2 inches, and has a swivel at one or both ends, to prevent twisting.
Retractable lanyards are available for those who do not want the loop of the lanyard hanging beside their leg, where it
might catch on something.
The purpose of a lanyard it to prevent the loss and damage to the tool.
Example: Working on a ladder, scaffolding, or bosun's chair, if you drop your knife (or hammer, drill, etc.) it is gone. There is also a high chance of the tool (and/or surface it lands on) being damaged. Not to mention endangering those below you.
"FOB": Short. ONLY attached to the tool (or a key ring). It is NOT attached to an anchor point on the user. A Fob is used to help remove a knife (or keys, pocket flashlight, etc.) from a pocket, and decoration.
A "Lanyard" and a "Fob" are
not the same thing. They do
not serve the same purpose. (However, if you have a
Lanyard attached to your Scout/Engineers/DEMO knife or SAK, and carry it in your pocket, rather than clipped to a belt loop, the Lanyard can double as a fob insofar as helping to remove it from your pocket.)
Since they serve different purposes, and have a different design, the term "lanyard" and "fob" are not interchangable, any more than "car" and "sofa" are.
A Lanyard attached to a Marbles MR592 Orange G-10 Scout knife, with the clip used to hang the knife to a belt loop.
The MAM friction folder is the only knife I possess with a fob. (The Fob was attached by the factory.)
View attachment 2096447
The Lanyard is 34 inches over-all, including the two swivels, but not the anchor clip. The anchor clip is attached to a split-ring on the same belt loop the knife is clipped to.
As for the OP's assertion: "A lanyard hole makes the blade shorter ..." It depends on the location of the lanyard hole. The MAM, for example, has the lanyard hole lower than the blade can travel when closed.
TBH, I am not aware of any folder that the lanyard hole affects blade length. The hole is below the tip of the blade when the knife is closed.
On the toothpick pattern (with or without a fish scaler/hook disgorger/cap lifter combo secondary blade) with a lanyard hole, the hole is in the rear bolster, beyond the blade well.