A long cord used to gather fabric, especially in clothing, is called a drawstring. If the wind feels unexpectedly chilly this morning, you can put up the hood of your sweatshirt and pull the drawstring tight.

You might find a drawstring in the hood of your coat, the waist of your sweatpants, or the opening in your backpack. Typically, a drawstring hangs loose unless it's tightened or tied shut. Most drawstrings are laced through loops of material, or into a tube, like the waist of a skirt. Little kids' clothes can't legally have drawstrings, since they're considered hazardous.

Definitions of drawstring
  1. noun
    a tie consisting of a cord that goes through a seam around an opening
    “he pulled the drawstring and closed the bag”
    synonyms: drawing string, string
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    purse string
    a drawstring used to close the mouth of a purse
    type of:
    a cord (or string or ribbon or wire etc.) with which something is tied
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