wrapped and braided bracelet video on YouTube, I tried doing a similar pattern with a black paracord bracelet and using red 1.4mm cord and a small Perma Lok lacing needle to do the center stitching from one end to the other.
I used about 10 feet of paracord for the bracelet and around 5 feet of 1.4mm cord for the stitching, with all the ends tucked along the inside.
The stitched pattern could be done with various different bracelet patterns that have horizontal cords down the middle section. I used a woven pattern with a 4 strand core on a 5/8" side release buckle.
If doing a watchband version, like the example shown with gutted red paracord for the stitching, or if there were a medic alert tag/compass/skull in the middle of the bracelet or pet collar version, you can have the stitched pattern coming/going from opposite directions on each side of the item, instead of the same continuous stitching...
A couple of other variations pictured are with the stitching doubled, and a cobra stitch/Solomon bar/Portuguese sinnet version with navy blue paracord and 1mm orange cotton braiding cord stitched down the center. The 1mm cotton cord came from Walmart.
Similar stitching/lacing that is done with leather should also work with flat nylon webbing, like a dog/cat pet collar or backpack straps, and adding paracord or smaller diameter cordage in, just make holes first with punch tool or hot pin/needle...
Video tutorial added: