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http://en.wikipedia.org/wiki/Parachute_cord
Paracord is a strong nylon rope that is a useful item to keep on hand (especially in your grab & go bins and bags!) It can be used whole, or separated into small thin pieces (shown in picture) or woven into a bracelet to have handy all the time. Here's more info:
What is paracord? From Wikipedia:
Parachute cord (also paracord or 550 cord) is a lightweight nylon kernmantle rope originally used in the suspension lines of US parachutes during World War II. Once in the field, paratroopers found this cord useful for many other tasks. It is now used as a general purpose utility cord by both military personnel and civilians. This versatile cord was even used by astronauts during STS-82, the second Space Shuttle mission to repair the Hubble Space Telescope.[1] ---CONTINUED---