The Homer Rhode Loop Knot is used primarily to make a loop connection to a fly, lure, or a hook. It has many benefits over the more common loop knots because it is easy to tie and can even be tied in heavy line. It also allows a loop of pretty much any size to remain in the line.
The very first version of the Homer Rhode Loop Knot was made using two knots tied overhand. It was then improved upon and now consists of the first knot being a single overhand and the second being a two-loop overhand knot.