Backup EDC is my Leatherman. Unfortunately, I have not figured out a way to keep a lanyard on the Leatherman.
my leatherman squirt and older model wave plus my sog multitool all have some type of a 'ring' on them - alongside the other tools - to which i have then attached a small split ring. can then tie paracord or ??? or attach a small gate-type clip and then paracord or ??? for detaching when needed. none have ever failed.