In the event your once bright rope has dulled and otherwise changed color, you should realize that the rope has also weakened, and should be replaced. Of course, if your rope started out a natural hemp color, closer inspection will be required to determine it’s strength.
When purchasing new rope, you can buy pre-tied lengths which feature a loop at one end and a functional tape wrap at the other. Purchase spooled rope from Hauley Music. A local hardware store has lengths of cotton rope (which will stretch for the next ten years, so avoid this practice). If you buy spooled rope, you’ll need to figure out a method of anchoring one end to the other when the lacing is completed. A simple and effective method of creating a loop is to unwrap the last inch of rope, and then braid it back into the rope two inches from the end. Some sort of binding agent (i.e. super glue) should be used to ensure a tight bind with the newly formed loop.
If you are replacing your rope, the easiest way to remove the old rope is to use a pair of scissors (carefully) and just cut it off. This leaves several dozen three foot lengths of rope which can be donated to a school as jump ropes. If you take the time to unwrap the drum you’ll be able to make a couple of long jump ropes or perhaps a clothes line.