This is actually already a commercial product. I just ripped off the idea slightly, and since the result wound up looking a bit superficially draconic, I decided the hell with it and went all the way.

They are boss for things that must travel with their cords for whatever reason. I use them extensively for power tool cords, for instance, and you never have enough of the damn things around when you need them. They’re also significantly less irritating than velcro cable wraps.