What is a lanyard for on a pocket knife?

Lanyard / Hanger + SAK = Win

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I've never put one on any of my knives. I see no purpose other than looks.
 
My sebenza rides in the leather pouch and having the lanyard fob is useful for easy access for the folder. On my other folders, the fobs let me know the orientation when I grab the folder in the pocket. It also provides additional gripping on the palm where on some occcasion did prevent it from falling to the ground/floor/tiles during usage.
 
I tie them on a lot of my knives. Its really more of a fob than a lanyard. Nothing fancy though, if I include a bead of some kind its to weigh down the fob so it lays flat and not necessarily to jazz it up. They are handy to help retrieve a knife from your pocket, especially if you are wearing a belt with stuff hanging off of it and if the clip is too tight. As was stated before, it also helps lentghen the grip if you have a smaller knife and can add some cushion to your grip if you have a knife with thin or sharp handles.
 
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