I use a fob that is a cross between a hangmans noose and a monkeys fist, about two finger widths long. it helps when chopping, it helps to pull the knife out of the sheath, and it identifies it as mine.
I mainly have lanyards on my fixed blade knives, but agree that I've wished I had one on some of my folders as well! They add a lot of confidence when using the blades in all sorts of positions. When sheated, I tend to lay the lanyard along the handle and snap the retaining strap over the lanyard to keep it from catching on things.
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