A couple months ago I was about to go on a three week trip abroad, and of course I was going to take my camera with me! The only problem was that the stock strap was rather long and fixed in length. Having somewhat small hands, I didn't feel secure at all leaving the strap the way it was. And then... Sugru to the rescue! I just formed a small bead at the tightest spot I could get (but where my hand still easily slipped through the loop).
Also just to give you an idea, it's been several feet out a window, extended over the side of a boat, glared at by domesticated deer, almost eaten by a swan, etc. and it's still here (and working perfectly)!
Incidentally and in no way related to anything you just read, this was my first experience with Sugru. It was pretty awesome :)