A soldier told me a friend of theirs had made them a paracord bracelet, while in Iraq, and had incorporated one of his dog tags into the bracelet, and I'd head of this being done before from a couple of military folks that served during the first Gulf War.
They asked if I knew how to do that, and I imagine there are at least a couple of possibilities, but not having seen that particular one, I could only guess and give it a try with what I have to work with, which happend to be my Type II Diabetic medic alert tag.
The stainless steel medic alert tag that I have is smaller than a dog tag, but was easily added to a paracord bracelet and sized just right for a cobra stitch/Solomon bar/Portuguese sinnet type bracelet, by running the cord through the rings that originally attached it to the stainless chain it came with, as the knots were done.
As worn, the tag sits flat and when the bracelet is removed, the tag can still be angled to read the engraved medical condition on the backside. Tying the tag in place with thin elastic cord would allow the tag to easily be flipped over to read the reverse side.