I use orange paracord from countycom.com. I cut 100' hanks into SIX 16+ foot lengths. Then I wrap each one around my hand until there is about 5ish feet left and then I'll wrap that around the middle of the bundle and finish it with a clove hitch.
I learned that from my father and have done it that way for a loooong time. It works for me.
If I am using a fly with a thicker "ridgeline" I'll carry a longer longer line.
On very much of a mildly related side note ...
I really like the setup instructions at
http://www.cookecustomsewing.com/tundratarp.htm . This influences what I'll carry if tarping.
I tend to keep little notes for myself in Google Docs, and here is the note I made when setting up my Tundra Tarp:
Tundra Tarp Setup
Permanently Attached:
>>16" pieces of 1/8" poly line to each fabric loop along perimeter and face of tarp. (poly doesn't stretch like paracord)
>>12' long piece of 1/8" poly line attached to center four-loop attachment point. Make a 12" bowline loop at the end (24” circumference), run the loop through the four center loops and then back through the end of the 12" loop, then wrap the rest of the cord down the center pole and stake to ground.
>>Corner Cords (if none permanently attached):
>>Four 30" pieces of 1/8” poly line for prusik knots
Carry:
>>Two 50' lengths of 1/4" poly rope for ridgelines.
>>150' of 1/8" poly line cut into nine 16.33' lengths.
>>50' of sacrificial 1/8" poly line that can be cut as needed.
(note that the two above adds to 200' total == two 100' hanks)
>>Two collapsible 8' poles