I do something similar. I used to wear a bunch of things on a lanyard around my neck, but now I do it this way.

I am not so handy with the paracord, so my fob is a simple triple braid with the same type of clip. I keep my multi-tool, lighter secured with heat shrink, two photon lights, my USB drive, 3 different spare keys and a jeweler's loupe on the fob. I have been carrying critical EDC this way for about a year, and so far so good.