This is a tripod.
If tied to the plate attached to the bottom of your camera or to the strap brackets on the sides, you can turn this string into a tripod.
Simply step on the string in a wide stance and then raise up to tighten the string so that you can better steady your shot. This method is best done while leaning on a wall. Doing so gives you three bracing points that will really help to steady your shot if you don't have access to a real tripod. Although this is not new, it is useful and can get you up to 3 extra f-stops on a shot in certain situations.
You need about 15 feet of string for this, I am 6 feet tall so 6ft x 2 + 3ft = 15ft because the string had to be double my height in order to reach the ground and each end of the string be attached to each side of the camera. I allowed the 3 extra feet so I could adjust my stance.
I thought the Targus Grypton tripod was worth buying. I can't say that it wasn't yet, but it amounts to me having screwed it up to where it won't hold up my camera the way it would have if I hadn't immediately tried to customize it.
By pulling off the top pieces of the tripod, I was able to fit a strap on it that I could then attach to my camera bag.
In doing so I cracked one of the points of articulation and rendered the tripod somewhat useless. I figure I'll get around to fixing it eventually. Scratching the inside of it was a meager attempt at adding some friction to the parts. Aside from working as a tripod, these things are almost cheap enough to buy 2 or 3 and use them in several different applications. I've thought about converting one into a multi-use tool using different attachments. A magnifying glass, reading light, alligator clips to name a few.
This button loosens the plate, you twist the piece just below it to either lock or unlock the plate release button.
Finally, the strap for my camera gets in the way often. I looked online and found that some people attach keyrings to each end of their strap and then some clips onto the rings. Here is my solution. This is especially helpful to setup a timelapse more quickly.