The knot is often tied around a small weight, such as a stone, marble, tight fold of paper, grapeshot, or a piece of wood.

The UK Maritime and Coastguard Agency's (MCA) publication "Code of Safe Working Practices for Merchant Seamen", Section 25.3.2, states that "heaving lines should be constructed with a 'monkey’s fist' at one end.

Subsequent tightening should let the outside edges curl to form an opposing triangular hole around the main part.

[4] Monkey's fists are commonly used as a convenient and unobtrusive method of storing and transporting precious gemstones.

[citation needed] A throwing monkey's fist can be created by tying around a heavy material such as iron ball, or stone.

A floating monkey's fist can be created by tying around a buoyant material such as cork, styrofoam, air filled ring or ball.