I'm not a fan of regular camera straps. The only time I use one is when I'm carrying two cameras (like when shooting a wedding), for this I use a dual sling setup. When I'm using a single camera, long straps just get in the way. I’ve been using a wrist strap for a while now and love it. It’s quicker to re-bag the camera yet still offers security while the camera is in your hand. It also makes holding the camera easier, as the weight of the camera is transferred to your wrist.
Cut a piece of paracord around 27" long and lightly sear the ends with a candle/lighter to keep them from fraying. Be careful, don't burn yourself!
Tie a "lanyard knot" so that it makes a loop in your paracord about 7" to 7.5" long. Tighten the knot, but not completely. Here's a good tutorial on how to tie a lanyard knot: http://www.youtube.com/watch?v=faO3rY9G_Ns
Feed the non-knotted end of your paracord strap through the right strap eyelet of your camera so that there's about an inch loop of paracord coming through. Pass the knotted end of the strap through this loop.
If you have trouble getting the end of the wrist strap loop through the eyelet of the camera, use a small string (like one of the inner strands of paracord) to pull it through.
Pull tight and test it out. There’s a sweet spot where there’s a little tension on the strap but enough slack so that you can still manipulate the buttons on the camera. Adjust the knot until it fits your hand perfectly.
Once you find the sweet spot, finish tightening the knot.
Trim the loose ends of paracord coming through the knot. If you want these ends to fray, leave them alone. If you don't want them to fray, carefully sear them with a candle/lighter. Enjoy your new strap!