A physical training and rehabilitation system includes a rope having first and second sides that hang downwardly from a bar, beam or other support, the rope terminating in first and second ends. A locking mechanism having first and second sections receives the first and second rope sides, respectively. Each section of the mechanism is independently adjustable between an unlocked position, wherein the rope side associated with that section can slide through the locking mechanism, and a locked position, wherein the rope side associated with that section is prevented from sliding. A connector disposed at the first end of the rope forms a loop for connection to an attachment or accessory related to a desired activity. The attachments or accessories may include a loop, a sling, a rigid bar, a spring, a support belt, or a handle. The system may be provided in kit form. Methods of assembly and use are also disclosed.