A turk's head knot is a three strand braid that is worked into a continious circle. It is commonly used as a slide for a neckerchief or to decorate tool handles.
If you would like to see how I incorporated the turk's head knot into a a dog leash project, please visit my blog.
The tools that you need are very basic. You will need a woodburning tool, a mandrel (I used a pen) which is used to form the knot and a length of paracord.