First let me say not all "paracord" is equal as Barry noted. On my last trip to the Winds, one of the guys wanted to pick some up for hanging bear bags. He picked up some inexpensive white paracord at Wallmart and that stuff couldn't handle even rubbing against bark. We really had to baby the stuff, then in the trash it went!

Personally I rarely use it, but find it good for hanging bags, fish stringer, general repairs, and for a clothes line for drying out stuff.