I never thought of tinker toys but those little black pieces of rubber are the gromments that I used when I rewired foot pedals of old sewing machines.
http://www.homedepot.com/webapp/wcs/...&Ntpc=1&Ntpr=1
That and a dowel sprayed with colored stain or paint. Interesting . But as dawnmarieodya said whats to stop them from unraveling. unless you wrapped the ends around the rubber grommet it does have a slit in it.