A lanyard may refer to a rope or cord worn around the neck or wrist to carry an object. Usually it is used where there is a risk of losing the object or to ensure that it is visible at all times. Alternatively it is a length of cord or wire with a hook at the end used to fire an artillery piece, or to arm the fuse mechanism on an air-dropped bomb by pulling out a cotter pin when it leaves the aircraft. Aboard a ship, it may refer to a piece of rigging used to secure or lower things.

Printed lanyards were used in situations where there was a good chance of losing the object—commonly by cavalry and naval officers at sea. A well-made pistol lanyard can be easily removed and reattached by the user, but otherwise will stay connected to the pistol whether it is drawn or in a holster. Lanyards of various color combinations and braid patterns are also commonly worn on the shoulders of military uniforms to denote the wearer's qualification or regimental affiliation. Many regiments were originally mounted and wore the lanyard on the left, enabling the rider to pull a whistle from his left tunic pocket and maintain communication with his troop.

Lanyards are also often attached to dead man's switches or "kill switches" on dangerous machinery, such as large industrial cutting/slicing machines; on vehicles, such as jet-skis or trains; and on exercise treadmills, so that if the operator suddenly becomes incapacitated, their fall will pull on the lanyard attached to their wrist, which will then pull the switch to immediately stop the machine or vehicle. The strap may be a fixed length or adjustable, and will attach to the wearer to support them against a fixed object or pole. Some law enforcement officers and members of the military utilize specialized printed lanyards to keep sidearm’s from falling to the ground during missions.