This was a very helpful thread ... thanks for the ideas. I put a couple of them into practice and like the results so far:
First, I liked the idea of the small loop where the gear attaches to the lanyard. Second, I thought the idea of using clasps from gloves was brilliant. I found a one-piece clasp from an old pair of gloves and attached it to a couple small loops I made in the cord end.
In all, I think it is a definite improvement over the simple loop of cord I used previously.