Is there a technical term for the lanyard? That is a good question. I don't know. If it is actually used to withdraw the gun from the holster it might be called something like "Entfernen Schnur", but that is just a WAG. Since it is primarily a Swiss device, perhaps one of our Swiss members could help us out here.
Your hunch is possible, however since some of the lanyards I have seen are far too small to fit over the wrist, I suspect that it probably serves the less glamorous function of a pull strap.
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If it's made after 1918...it's a reproduction
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