Get the Gear. Get the Training. Be prepared to use it! 550 Paracord is arguably the most versatile cordage available. It is made up of 7 Strand Nylon thread Core in a Nylon Braided Outer Sheath. The inner strands can be used for fishing or stitching or other finer applications. Once the inner strands are removed, the outer sheath can still be used for tying and binding.