Hi Rusty,
I’ll have to get back to you on this one, but there is something about this that seems familiar.
Have you noticed that there is more than one stable form of this? Try pulling on the free ends only to reveal the inverse of this knot. Keep things fairly loose. This inverse knot looks familiar, too, by the way. Next, let go of the free ends and again pull on the normal standing parts, and you can get a more globe-shaped knot.
Opening up the knot form, without regard to the ends, I see a structure that closely resembles this:
http://t0.gstatic.com/images?q=tbn:ANd9GcSL7LdpjUlVYPGQwD1W96xBZkXOj-GAWq7fixG7nInv8Q-saEi5
…but with an extra twist in the dead center.
Did you post this in the Knot Theory Forum because the bend seems less than practical in your eyes?