Paracord is an interesting and multi purposed material.
It comes in a few different weights the kind pictured above has a strength rating of 550lbs. It's thin nylon strands spun together to make thicker strands and then about 10 of those strands in side of colored nylon tube.
Premade bracelets can purchased on-line or at such retailers as Dick's Sporting Goods & E.M.S (to name a few) and any of the premade bracelts that are dual colored don not undo it one piece of cording. So not all to functional. You can also order bundles of cording, or spools. (E.M.S has rock climbing cord that has silimar properties & weight tolerances.
Keychains, lanyard, zipper pulls, boot / shoelaces (yes, laces!) sweatpants / hoodie strings.
It can used to make dog collars (the large yellow & grey coil) bracelets. Which are called Survival Bracelets. They can be undone to produce one piece of functional, strong line (and if unravelled further still the thin strands can (probably) be used as suture material. The red & black bracelet in the middle is app 26' of black cording with the red being just the nylon shell (it's flatter and there for more easily woven through the finished bracelet for decoration. It's the one I wear!
They're fun, easy to make and go together quickly.