In the 70's macrame was EVERYWHERE. Mostly plant hangers, but purses were quite common, as well as wall hangings. Most of these wall hangings were owls, as pictured. They were quite popular, but looking at pictures of them now they were SO ugly.
Home crafts were really popular, especially utilitarian things people could make themselves (i.e. plant hangers, purses, keychains, etc.) . Included in this picture are instructions for making a macrame key chain, although I don't know how complete they are.
Click on the picture for a larger view.