I think it would be ok, you might have to get a large key ring to put on it. I there are is a picture of Jessica using a mono bracelet as a key chain... I say go for it, if it doesnt work for you attach it to a bag.
Interesting idea....I have a Keepall and my luggage tag has been heat stamped with my initials.....just don't know that I would use it as a key chain though..interesting idea though! Maybe if it was a little smaller? Personally, I think it would be too big!
Hmmm, never thought of that before. You'd definitely need a very big keyring to hold your keys. But it would be really cute as a huge "charm" and could help you find your keys easier I suppose. Post pics if you end up getting it... I'd love to know how it works!