Noidea Lanyard

We've called this the Noidea lanyard because when they arrived, they all came with a little black ring on the clip.

After playing around a little, we found a number of uses for it (search Noidea lanyard on the Braw Beard YouTube channel) but we're still baffled.

This lanyard is 46cm long which can be used around your neck for passes, ID cards etc... but what is that ring for?