It is a chain of slipknots that will come either come undone when both ends are pulled simultaneously or stay together when the end is knotted
(This is my first instructable so be vicious with what i could improve)
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We use this daisy chain to gather up the extra line when tying up our horses. It stays out of the way of their hooves, it doesn't come apart if they pull it from their end, and if they panic for some reason it comes apart quickly from my end.
Good job on your first Instructable. It is easy to understand and you have provided lots of photos.
http://en.wikipedia.org/wiki/Chain_sinnet
The link showes you the Wiki on that knot.