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You should totally put a clip on the lanyard.
Based off my understand of Ca. law, the clip makes my knife an unconcealed weapon as it is readily seen. I like my clips.
This is exactly what I was thinking, but in a serious vein. I would have to go to the gadget section of a hardware store to find something, but I think you could find something usuable for this that isn't big, and that paracord could be attached to. I'll have to look and see if I can find something. This would be a great idea if something will work.