Paracord is needlessly strong and heavy for a bear bag.

For an ultralight rig that's inexpensive go to a tackle shop and get them to spool you off a bit of bulk heavyweight dacron fishline - this is braided stuff, like rope, not monofilament - it's used for flyline backing and stuff. 80 lb or 130 lb test weight is fine. In the lengths
required for a pct style bear bag hang (like, oh, 50 feet or so) , it's almost free <img src="/forums/images/graemlins/wink.gif" alt="" />

My bear bag rig is set up for pct style hanging with a little micro carabiner, mesh rock bag and 130 lb dacron line.

It's also great as tarp tieouts etc. you're just not as cool as all the cool kids who use spectra..