That's a really cool idea. I'm not sure what that little blue plastic thing is but from what I can see, it's used to make the wire more compliant and easier to thread through that loop as well as preventing you accidentally sticking it into your hand. (That really hurts!) I would assume a bit of Blu-Tack or something similar could be used to hold the two wires together for a bit and cover the ends less sharp until you pull it off; God knows how I hate it when I stab myself when doing this sort of thing! Please correct me if I'm wrong.