Done that for decades with paracord and nylon net twine (braided).
Although I didn't think to take those things and put clips etc on them.
Some drawbacks:
1. Abrasion, exposure to sun, exposure to acids like coffee and Coke and GatorAide (sp), and being kept tightly kinked like that for years can degrade the product. Not sure what oils and acids in perspiration would do to it.
2. Pilferable.("Ooooo, sparklies!").
As Mountain noted, rappeling with a thin cord is not comfortable, and in fact it is dangerous. It stretches, it recoils, it puts too many pounds per square inch (PSI) on you unless you use many iterations, which is why they use it on parachutes, and why they use so many shroud lines under a parachute linking to the load...if you were tethered on with four shroud lines, they would either part, or tear through the harness. If they just went to you, you'd fall to the ground at terminal velocity for your body cut into five or so pieces).
Lashing, repairing...good as sliced bread. Personal support...not so good.
Quite attractive though.
PS: For an interesting time, take about three hundred feet of nylon line, stretch it under a real heavy load, then reel it tightly back in under that load. Aferwards, in a little while you hear your reel start to creak, then implode.
(Next rant: the numerous uses for the little colored wires inside a telephone bundle).
