Really nice work all.
This is a water bottle lanyard used to carry H2O while keeping your hands free. Here in FL it's nice to have water due to the heat. I first saw this concept at a corvette show in Lakeland, FL. A bank was giving them away for advertising, but instead of a rope lanyard, it was sewn cloth ribbon that had their name in it.
My splice didn't come out as planned, so I tied a Spanish Ring knot at the spliced area first and then covered that with a Pineapple Knot. Line is from Wally World, 5/32" in gator colors; 24' for the 4 strand braid and close to 40' total including the fancy knots. The loop is 3' long and there is a 2" braid below the PK. With this lanyard length, you can reach right down and get a drink w/o removing the lanyard from your shoulder. At the bottom of the braid, I looped 2 lines around the split key ring and re-braided them back to the splice, using the other two lines at the bottom as a mule. A small clip holds the # 18 O-Ring (1 3/16" O.D. x 15/16" I.D. x 1/8" ). The O-Ring stretches/slips right over the neck of the water bottle but holds really well. I believe you could skip the split key ring with clip and just loop the two lines around the O-Ring.