A fellow in a guitar class I was in had his pick tied to his guitar with about a two foot length of fishing line. Little hole drilled in his pick. I think the other end of the monofilament was tied to the bottom 'E' - classical guitar, it was. He would just let the pick dangle when he wanted to use his fingers, and reel it back in when necessary. I figure he'll save about a thousand dollars over his lifetime.