^^ it's true
I usually make little keychains..I clean, condition, brush, and straighten (if necessary) the hair, fold it in half around a keychain loop thing and band it close to the top, leaving a little loop, then cut it so that it's all straight and even. It's usually about 3-4" from top to bottom.
Sometimes I make a little decorative band for it by beads on a string and tying it around where the rubber band is. It comes out pretty nice =)
I've done it with both mane and tail hair.
With tailhair you could make a pretty nice bracelet..I'd like to try to make one sometime.