When I was in Girl Scouts, one of the things we made was the Monkey Ball Necklace.  But as I was browsing the net about it, I see its called the Monkey Fist Knot Necklace.

I still have the 3 original necklaces I had from Girl Scouts, which inside of each of them I can't recall what it was, maybe a marble or bead.  But whichever, Dr. Evil Jr. was still eyeing them up for his play toys.

I found this video,

its a mega example to show how to make one. 

Link: How To Tie The Monkey's Fist

Here's some additional links about them:

Link: LoopyLacer - Monkey's Fist Bookmarks

Link: Monkey's Fist Necklace Kit