I scoured the local stores and the internet hoping for a small multi-tool which had some small pliers and a small pair of scissors. I found none to my liking. Both Gerber and Leatherman make such a tool, but I didn't want to spend the money.
Having given up on the multi-tool, I set my sights on modifying a pair of scissors by grinding the pointy tips down and pinching the split shot behind the pivot. I still was unable to find something I liked. Either the scissors were huge, had plastic handles unsuitable for the split shot, or were rather dear.
What to do? Well, make something of course!
Step 1: Prototype
At this point, it looked good, time to proceed with the real deal!
Step 2: Tools & Materials
Hacksaw with fine tooth blade
Flat metal file
Rat tail file
1/8" drill bit
3/8" drill bit
Very small drill bit for lanyard hole
150 grit sandpaper
Old circular saw blade
6-32 machine screw