Lanyard string is the name given to certain kinds of colorful plastic thread. There are two general types: round strings which are often hollow inside, and flat laces. It gets its name from the lanyards that it is used to make, and is also known as "boondoggle," "gimp," "scoubi" or "scoobie." Lanyard string is inexpensive and comes in a variety of shades. Many things can be created from lanyard string: bracelets, necklaces, decorative items, straps for purses, and more. A keychain is an appropriate project for a beginner as it can be made using a single basic stitch.
Fold the lanyard strings in half. Make sure they are the same length. Hold the folded strings together and pass the folded end of the strings through the keyring to form a loop. Pass the cut ends under the keyring and through this loop so that the strings are secured in what is called a “lark's head” knot. Pull this tight.
Take any one string and wrap it once around the other three strings. You should have two strings of each color coming off the keyring. Push the end of the string back up through the loop to make a knot. Repeat this process four more times so you have five stitches, taking care to wind and knot in the same direction every time.
Take a string of the second color and wrap and knot five more times using the same method as with the first strand, again taking care to wrap and knot in the same direction. You should now have a short section of lanyard in two colors, with the beginnings of a spiral running around it.
Wrap and knot the other strings with the same method, taking care to alternate strings so that you use up all four of the lanyard strings at about the same rate, and to maintain an even tension. Keep going until you have completed 3 to 4 inches of lanyard.
Tie the two pairs of strings in a reef knot--right over left, and left over right--to complete your keychain. Pull this as tightly as possible. Cut the excess lanyard string, leaving about an inch to form a decorative tassel and stop the knot from coming undone.