I don't think it's silly, but as A_rec said, make sure you don't bump into things with it on. I like the fact that you can use it as a clip for your tripod as well -- it means less screwing around with ... screws and ... stuff.
I've also seen those straps that you attach to the tripod mount of your camera and use for practically anything (tie around neck, tie around camera as a protection bag, etc.) which seems cool as well. It looks like your solution is more reliable for hiking and adventuring though.