This knot is a favorite for key chains and ornaments, but it has a much more practical purpose.
A Monkey Fist adds a considerable amount of mass at the end of a line, allowing this to be tossed across great distances as it trails a small messenger line. Once this line is transferred, the real mooring warp can be hauled to bring the boat into berth.
The video below shows how to tie a Monkey Fist.