Yep, I have made several. Nice thing with DIY is that you can customize to meet your needs. There are some interesting designs at natureboydesigns.com and then if you google "paracord lanyard", you'll find many more and instructions for various knots and weaves.

I made a very short, cobra weave lanyard (about 6") with 4 clips which I attach to my hip pack in horizontal fashion. I've got a separate neck piece that I can attach it too and use it as neck lanyard when I want to go lighter.