Is it sticking out from the piping part or the canvas??? cuz in the 2nd pic it looks like it's coming out of the canvas or it might be just the angle....
Either way, I don't think it's normal, take it back!!! I know some of my mono bags have the yellow string sticking out a lil bit like 1mm, but never THAT long! take it back!!!!!
I think it's somewhat (lol) normal, but if I were you, I would return it, if I could.
BTW, it's soooo beautiful, I am think...think...can't do it...cause badly I already bought others this month...