If you've ever wanted to hang your iPhone from your wrist or neck then you, Sir or Madam, have not thought things through. Neither have the people who created the Danglet.
The $15 Danglet attaches to your iPod or iPhone's dock connector and lets you hold it like a wrist strap. Which is fine if you're just using it as a safeguard (like a Wiimote strap) in case you accidentally drop your iPhone. It's NOT fine if you're flinging it around like the people in the video below.