Lovely looking swiss style scout! Can you tell us what it is?
The short lanyard is really just an extension of the handle. It can help keep a knife upright in the pocket, it helps keep the knife from falling out of the pocket as easily (more stuff to get in the way), it helps you know that there is a knife in your pocket without checking to see if it's there with your hand, and it also acts as a handle to quickly pull the knife out of your pocket (most people have the bead hanging out of the top of their pockets for an easy 'grab' or 'pull' in order to retrieve the knife). For Shorter handled knives, a short and thick lanyard with a bead is actually useful as an extended grip for you pinky finger, and can provide more of secured grip type feeling.
Before I gave richstag my old Bullnose, I used to keep a leather lanyard with a simple knot at the end.