I buy my paracord as i need it from the local chain craft store using coupons. It comes in various sizes and lengths. The cord comes in hanks that become a mess if you try to remove cord as you need it. There are various ways to change that hank to something easier to use
Step 1: Figure 8 Loom
In my (very) humble opinion the "Figure-Eight" set-up is the best method. It is simple make and easy to deploy the cord as desired.
I used two pieces of an aluminum rod for pegs and made the loom by drilling peg size holes in a piece of scrap lumber and placing a tie off (eye screw) to secure the standing end of the paracord.
Place the first peg in the first hole. Place the second peg according to the size and length of the cord you are using. In this case I am using 95 paracord - 25' long
Tie the cord to the tie off point and bring the cord above the two pegs.
Bring the cord around the second peg and above the first
Bring the cord around the first peg and above the second
Bring the cord around the second peg and . . .
. . . continue in this manner until there is about 1' of cord remaining
Bring the cord around the figure 8 and underneath the bight
. Bring the cord in the opposite direction a couple of times and . . ..
. . . tuck it under itself and pull snug.
Remove the figure 8 from the loom. Pull the cord from the "tie off" end as you need it