I don’t like paying for brand-name ferrocerium rods with handles when blanks can be got for much cheaper — usually $5 less than their handled counterparts. But I do like to have a handle on the rod, and I require some sort of lanyard. When it comes to something as important as a ferro rod, I find comfort in knowing that it is secured to this-or-that.
The simplest solution is to tape a loop of paracord to one end of the rod. I use gutted paracord. The tape can be wrapped a few extra times to make a handle however thick I like.
The other rod in the above photo has a similar lanyard attached in a different manner. The paracord is first taped to the rod with a small piece of electrical tape. Then, on top of that, I slid a small piece of heat-shrink tubing (the kind used for electrical wiring). That was blasted with a hair dryer, causing it to shrink.
A small hole could also be drilled in one end of the rod. This is something of a fire hazard: the drill and rod will be throwing a whole lot of sparks as the drill works its way through. And it requires access to power tools, which isn’t always practical.
My favorite method is the tape. The lanyard is secure and the tape provides a thick, padded handle.