While this may not be technically considered fly fishing gear, it's certainly a great outdoors item from a company that is doing some pretty great things.
The company is called Survival Straps. They use 500 lbs para-cord to make bracelets, belts, gun slings, etc. The idea is that you keep it on you and then if you are ever in some sort of a survival scenario, you unravel it and use it as you need it. They even claim that if you use it and send them the remains, with your story, they will replace it free of cost. (I've been tempted to take mine apart and send it back with a note "Shoelace Broke" to see if they would send another one, but thought that might be abusing the system.)
I bought one roughly a year ago and wear it out whenever I go outdoors. I have yet to need to use it but so far it is showing absolutely no signs of wear so if I needed to use it, I'm confident that it wouldn't fail.
But this company does more than just make some cool anklets. The support the Wounded Warrior Project; on organization that provides support to severely injured soldiers returning from Iraq and Afghanistan. Suvival Straps also has care packages that can be purchased and sent to a soldier abroad, as well as send some of the proceeds to the Wounded Warrior Project.
So my hat goes off to them. Keep up the good work guys.
Here's a shot of me sporting mine(left arm). Almost needed to unravel it to make some splints after getting beat up by that bow. :)