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Picture of Cobra Braid Keychain with Diamond Knot
A decorative, 3" (not including the keyring) keychain made of paracord. I made a multicolored for this instructable, but there are also directions for single-colored. 

Step 1: Materials

Picture of Materials
For this project, you will need:

(Multicolored)
2 strings of paracord that are 17" each (in different colors)
1 sting of paracord that is 14"

(Single color)
1 string of paracord 34"
1 string of paracord 14"

(Both)
Key ring
yardstick or tape measure
scissors
clear tape
lighter
needle-nosed pliers
 
Thanks for sharing your comprehensive step-by-step guide. At first look, I thought it must be really difficult to tie a diamond knot. However, after viewing your guidelines, it looks rather simple. I think I will try using one color first. If my first attempt is successful, then I will proceed with dual colored threads.