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1.
refers to fabric worn around the neck to display ID badges and can also be used to carry keys and USB flash drives.

lenyards can be custom printed or generic

Lenyards is an alternative spelling for lanyards
The school gave students lenyards to wear their ID badges to easily identify them.
by Brandon Aaaa October 20, 2012
 
2.
Lenyard also describes someone as a complete and utter knob end. (Penis, cock, walt, schlong)
here big man what way was that Lenyard of a door man gettin on last nite?!?!?!?
by Jaunto December 14, 2010