readyone,
I have heard of some folks using a segment of heat shrink tubing to hold the ends together. Slip the ends in, heat up till snug fit. Easy to install, easy to test. My local hardware store has a large selection of heat shrink tubing in the electrical dept. I haven't tried this yet, but it sounds like a good solution for kids.
If you need something more secure (not intended for kids) you might try the small clips made to secure small lengths of paracord to a zipper. These are commonly used on back packs and parkas to help access the zipper. REI sells these clips in a small bag of about six clips. In theory the clip would fail long before the paracord severs your head. When I get the time I plan on testing this solution as well.
Good luck, TR