So, I'm thinkin' that after you punch your hole for the eylet in the circle cut out, punch another hole on the inside front of the card where the circle will go; put an end of hemp through from the inside front of the card and tie a big enough knot on the end to keep the other end from coming through the hole. put the hemp through the hole in the circle cut-out and the eyelet. Then you can attach the circle with glue or whatever. That's got the string anchored on one side. Then just put a matching circle/eyelet on the other side, setting the eyelet kinda loose so it's not hard to wind the hemp around. I hope this makes sense, and that it's what you're talking about even!

I can see it it my mind, but let's face it, it's a long trip between my mind and my fingers typing!
Hugs,
Betsy