I work in Iraq, for a company who contracts from the US Military. We have shortages on many things here that the folks back home take for granted, like cold beer or comfortable beds. However, we do have plenty of water bottles, paracord, and sand.
I was always carrying a water bottle around in my hand, until I started making paracord bracelets, thanks to Stormdrane's instructable on that subject. That got my creative juices flowing, and I came up with this solution.

Thanks Sergeant Nowlin! Vote for this instructable, I'm going to give the Leatherman to the Sergeant. I already have two. They're great tools!

Step 1: Supplies

You'll need about 4 foot of paracord, depending on your height. A measuring tape, scissors and a lighter.

Step 2: A Cinch Knot

The cinch knot, I call it a modified Hangman's knot. The first step is to make an “S” with one end of the cord. You need the loop about 3 inches and the loose end about 4 inches past the end of the loop.

Step 3: Starting the Knot

Next, pinch the “S” at the top and leave an eye on the cord of the loose end.

Step 4: Step 3: Finish the Knot

A. Start a wrap with the loose end over the other 2 cords. Keep it snug against your thumb and
finger.

B. Wrap the cord around the loop, keeping it snug against your thumb.

C. Wrap it around the loop at least 3 times, keeping the wraps snug.

D. Next put the loose end into the top loop, pull it snug, and hold it with the index

finger. (I'm lacking a photo here, I needed a third hand to hold the camera).

E. While holding the 3 wraps and the loose end in the eye, pull the bottom line

of the big loop. Then snug up the end sticking out of the loop, and tighten the

bottom cord again. Not too tight or it wont slide.

Step 5: Step 4. There You Have It

Once you have the knot the way you like it, trim the loose end and burn it with the lighter. Be careful, it's very hot! I keep a small container of water next to my work, melt the cord, dip my finger into the water, then quench and smooth the molten cord.

Loop the cord over your water bottle, hold the knot and pull the main line, not too tight or it's hard to get off. It will tighten easily. When you want to get it off, hold the knot and pull against the cinch line.

Next put the cord over one shoulder and the water bottle on the opposite hip. This how I carry
mine, or place it as you want to carry your bottle , make a loop or mark it for size.
Tie the same knot at that location on the end of the 4 foot piece of paracord.

Step 6: Optional Canteen Shoulder Strap

Adding a shoulder strap is a little more work, but the comfort is well worth the effort.
I built a 16 inch Sinnet bracelet (Stormdrane's design) for my strap.

I double wrapped and tied the loop before the first knot, so I could insert my cord for the bottom leg of the canteen strap. After I finished the Sinnet shoulder strap, I then tied a cinch knot in that loop connecting to the cinch for the bottom of the water bottle. A length of cord 26'' with a cinch (Hangman's) knot on each end. (Adjust for your own height)

At the other end of the 16 inch shoulder strap, I doubled the inside cords back leaving one loop out 3/4'' and the other out 2''. I tied one cinch knot for the front leg (about 18'') into the 2'' loop and a knife laynard knot in the short one. This is for positioning the shoulder strap.

The two shorter cords, front and back, work well because you can adjust the length as needed.

Thank you for viewing my instructionable, and I hope you can use it. The most important thing I can pass along is some good advice: STAY HYDRATED!