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I think calling it a 'suicide strap' is idiotic, since there's nothing remotely dangerous about the practice of wearing your backup regulator on a necklace.
Until others replied, I admit I had no idea what the OP was talking about, as I have never heard the term. It seems to me that by referring to a bungeed secondary around the neck as a "suicide strap," the person using that term has already made up their mind about it. If so, why ask the question? It's like polling people as to what they think of "this piece of ****" I am thinking of buying.