A releasable attachment apparatus has multiple components that allow for easy storage, deployment and detachment of small portable items carried on the apparatus. In one embodiment, the apparatus has a retractable unit having a housing inside of which are a reel, a spring coil biasing rotation of the reel, and a tensile member carried on the reel. The housing has a female opening that fittingly receives a connector so that there is minimal swivel action in the connector and thus minimal strain on the tensile member when the tensile member is fully retracted in drawing the connector to a stored configuration with the retractable unit. The apparatus also includes a fastener that is adapted to carry the small portable items and is removably attached to the connector. The apparatus also includes a locking switch which is movable between a neutral position that allows rotation of the reel and a locking position which locks the reel against rotation.