Cut one 20 inch piece of macrame cord. Then cut three 48 inch pieces of macrame cord.
Tape the keychain clasp to your working surface.
Attach the first 48 inch cord to the clasp with a larks head knot.To do this, fold the cord in half and put the center loop under and through the keychain ring. Bring the loop over, pull the cord ends through the loop and pull to tighten.Repeat for the other two 48 inch cords.
Step 2: Tie first row of knots
Separate your cords out on the table or working surface. For clarity, we'll number the cords 1 to 6 from left to right.We'll begin by working with cords 1 to 3, with all knots tied around cord 1 (the left cord).
Now we're going to tie double diagonal half hitch knots.Begin by crossing cord 1 over cord 2.
Use cord 2 to tie two knots around cord 1. Pull to tighten.
Cross cord 1 (now in the 2nd position) over cord 3.
Tie two knots around cord 1 using cord 3. Pull to tighten.
Now we're going to tie double diagonal half hitch knots starting on the right side, with all the knots tied around cord 6.Cross cord 6 over cord 5. Use cord 5 to tie two knots around cord 6 and pull tightly.
Now cross cord 6 (in position 5) over cord 4.
Use cord 4 to tie two knots around cord 6. Pull to tighten.
Now cross cord 6 (in position 4) over cord 1 (in position 3).
Use cord 6 to tie two knots around cord 1. Pull to tighten.
You should now have two diagonal half hitch knots on the left and three on the right.
Step 3: Continue rows of knots
Start your next row of knots on the left in the same way, crossing cord 1 over cord 2.
Tie two knots around cord 1, with cord 2, then with cord 3 using the exact same method as the first row of knots.
Tie the same three knots as described for the first row on the right side.
Repeat and continue this pattern until you have about 10 rows of knots.
Step 4: Knot the last row
On the left side, cross cord 1 over cord 2. Use cord 2 to tie one knot around cord 1 (half hitch knot).Then cross cord 2 (now in position 1) over cords 1 AND 3 and tie one knot. Pull to tighten.
On the right side, cross cord 6 over cord 5. Use cord 5 to tie one knot around cord 6 (half hitch knot). Then cross cord 5 (now in position 6) over cords 6 AND 4 and tie one knot. Pull to tighten.
Step 5: Finish with a wrapping knot
To tie a wrapping knot, take the 20 inch piece of cord and make a "J" shape leaving about 4 inches on the left side. Set it on top of the keychain so the loop is about 2 inches below the bottom of the knots.
Gather the cords together. Hold the short end of the "J" in place and wind the long end of the cord around all the cords 4 times. Make sure the cord is wrapped tightly, and be sure not to overlap as you wind. Then take the remaining long end and feed it through the loop created by the "J". While holding the long end, pull up on the short end of the "J", creating a knot under the wrapped cord.
Cut the short strand as close to the top of the wrapping knot as possible.
Step 6: Cut mermaid tail fringe
Cut the macrame cord at the bottom, leaving 2-1/2 to 3 inches.
Use a fine tooth comb to unravel the cord.
Once you've fully combed out the cord, cut an upside down "v" in the fringe, making a mermaid or fish tail.
Your macrame keychain is complete!
Video
Notes
If you want a tassel at the bottom instead of a fish tail, you can leave the tail uncut instead of cutting the "V" shape.