Mark, I've done a few cane handle wraps, both the size you have posted, 1/4" and 1/8" and prefer the 1/8" for appearance and comfort. One problem with the 1/8" is it takes about 15' or slightly more to wrap a 4" handle without splices. I never figured how to make an acceptable splice with cane wrapped handles.
One source of the cane is basket suppliers or chair caning suppliers.
