I posted some pictures and instructions in my gallery. Pardon the fuzzy tails, vectran is tough to cut and I didn't have a razor handy. Also, it doesn't burn easily so I couldn't melt the ends.
Not sure how to put a link my gallery, but here is link to step one of making it.
I may have not been real clear in my orginal post. These don't do the same thing as the spool shackles or the holes in a coin trick for adjusting a line.
One example of a use of these is in place of a biner in a WBBB strap setup.