I would rather chew tinfoil and staples that untangle cordage! Unless you are the type of person who likes to stand around and snap yourself in the genitals with a rubber band, I know you feel the same way.
When I hike in the back country, I hang my food bag to keep bears, raccoons and mice out of my pack. This little spool was designed to coil up and store half a roll of micro cord in my pack (holds a little more, appx. 70ft). That seems be be enough to get the hang rope as high as I can throw it. I suppose you could use it to pack any small cord for emergency use or otherwise. It could be used for fishing line or spare fly line, snare wire, cloths line, seizing twine, or snare wire. Rather than add a knob or peg to use for the winding, which would undoubtedly get broken off, I added a small hole in the spool base. Just poke a little stick in and wind away. For you ultralight backpackers, this weighs in at 27 grams without the cordage (1.0 oz for you imperial guys) which will be a little lighter than the bundle of paracord I currently use to hang my bear bag.
I printed the parts in ABS for durability and temperature stability with .30 mm layers and 30% infill. The spool base and the guide will need a little support material though. Print and de-burr the parts. Glue the spool base and spool top together with solvent glue, or a bit of 5 min. epoxy. Typically, I like to run a drill bit by hand through the bolt holes to smooth them out. Swing by the hardware store and get an m4 15 mm (or similar sized) bolt washers and nut. Try to find a nylock nut and save yourself some hassle. Spool on some cord and hit the woods.