After the discussion in the tarp pull outs thread I stumbled across some things called Grip Clips. I ordered a set of 4 small Grip Clips (GC) for 8.00, shipping included.
The GC weigh in at .4 oz. each, including a 6" piece of 1/8" shock cord I added to help reduce stress on the tarp. The GC are made from plastic and are really nicely made. All the corners are smooth and rounded, nothing to damage the tarp while they are attached. Installing them on the tarp takes all of 2-3 seconds per clip and once attached they seem like they would stay put, meaning that the clips could be left on the tarp when it is packed up. Here's a pic on the clip attached from the outside and the backside of the tarp:
The GC make a HUGE difference in how much room I have under the tarp. I intentionally hung my tarp really low over my hammock like I would in rainy or wet weather. This setup is where I have the least amount of room between my hammock and the tarp. Keep in mind that the hammock is unoccupied in the pics below which make the hammock ride a little higher than it would if I were in it.
Here is a pic of the normal clearance between the tarp and the hammock body:
Here is a picture of the the side using the GC:
You can see that it makes a pretty drastic difference in the amount of space you have under the tarp. Another advantage of these clips are that you can move them around on the tarp to find the point or points that give you the most room. I used 2 clips per side on this setup but you could easily just use 1 clip. Once the clips are removed from the tarp you can hardly tell where they were installed. It's a lot less damage than sewing tarp pull outs to the tarp.
I want to try them out on my GG 9x9 tarp because I feel that these may go a long way to reduce the sag in the sides of the tarp.
Here's a couple more shots: