This is our special order 1-hole cord lock.
A spring loaded barrel cord lock closes bags, hoods, hats, etc. fairly securely and without tying.
When it's squeezed together, tension is released and the cord lock can move freely up and down the cord. When released, tension is engaged and the cord lock stays in place.
These are great for use on sweat pants or hoodies to keep from losing the drawstring and to tighten the drawstring as well.