Wrap the end of each equal-length section of cord around a group of LEDs. The cord should be wrapped around twice to prevent the LEDs from flying off while the bola is being thrown. Securely tape the cord to the LED bundles.
You now have E-Bola!
To get rid of your E-Bola, hold it by the handle and swing it over your head. For the most part it should fly tangentially away from the release point. With a small amount of practice you can learn to hit a target, and with a bit more practice you can learn to actually get the bola to wrap around your target.