beaded rope necklace


i scored this beaded necklace at a really cool vintage and oddities shop here in austin, uncommon objects. does anyone know how this beaded necklace was made? crocheted? knitted in the round? is it just a traditional bead stitch?  the peyote bead stitch will stack the beads next to each other but i've never seen it with thread threads exposed and interwoven like this piece. i would love to learn how to make one with the thread exposed and woven just as this piece is. anyone???