Basically rope as a bracelet. A good possible starting item for certain kits.
People in the military have been bored and making shit like this forever. Someone just finally got smart and commercialized it.
The cord these are made up is tested to 550 pounds. We generally refer to it as 550 cord. Just like the army duct tape is 100mile an hour tape. 
Army has giant spools of it handy when we need rope or cord.
Paracord is neat.
It would be nice to be able to carry around that magical 30ft of rope that allows you to get out of pits without it weighing you down and filling your inventory like it does.
Maybe itās just a one-use bracelet that performs like the rope does but then is consumed?
The bracelets are about 15ā if I recall.
Bungee cords would be niceā¦
I use some similar stuff for shoelaces. its amazing
Itās crossed my mind, but not being a proficient survivalist myself, Iām not sure what you DO with the paracord. I mean I can see the general usefullness, but what are the key things youād use it for?
550 cord would make good snares because it is so strong and the tight weave makes it kind of āslipperyā. I would not advise anyone to try and climb with it however. I tried that myself and ended up with a lot of rope burns and still would have been at the bottom of the pit. 550 cord can also make a decent tourniquet, especially with the aid of a small stick. You simply tie a reasonably tight loop between the wound and your torso, insert the stick and then twist the stick in a circle as if your are turning off a water faucet. An arm or a leg can be made to turn blue and cold to the touch in a minute or two like that. Once the stick has been tightened to the proper amount a knot around the limb and the stick hold the tourniquet in place. In game terms, perhaps a stick and a piece of 550 cord could be used to stop bleeding in a way that was less painful than cauterizing the wound. I donāt know if there are any other forms of snaring besides bear traps atm. Maybe 550 snares could slow down enemies like a bear trap, but do no damage. That way they are still useful in a different way from the heavier bear traps.
Ooh, good idea about a tourniquet, mechanically it could prevent bleeding, but cause limb damage over time instead. Although currently bleeding causes damage to the affected body part, probably have it pull from torso health no matter where the wound is.
550 can also be gutted. Inside of the casing are multiple smaller strings. This could be used for 6" strings and what not. The casing could be used in some kind of crafting though nothing comes to mind. We used it for various things in the military. Mainly Iād call it a piece of clothing that can be disassembled into two 6" ropes or some such. Iād just use that to avoid over complicating things.
As for Paracord/550 we use it for the same types of things you use rope/cord. If you wanted to use 550 as rope, youād probably want to braid a number of like length pieces together to get a thicker piece. I keep a small roll of 550 cord in my gear. Itās insanely useful shit to have. If I need small strings, I cut a piece off and pull out the insides and use it. If I need a cord/rope to tie something down I melt the ends with a lighter or just tie em in knots to keep em from unraveling. Iāve seen people weave slings for their rifles from 550 cord. Iāve also seen someone make a hammock out of 550 and a poncho.