One of our favorite DIY sites, Instructables.com is hosting a Paracord Contest. The grand prize is a Leatherman with a custom laser etched message of your choice. Paracord is one of the best gotta-have-some-with-you preparedness items. The inner strands can be used for fishing line while the outer shell on its own provides a strong shell for wrapping or weaving other objects. Really, the possibilities are endless.
Have a look at the Instructables Paracord Contest here.