Now as to the string effect. Thats being accomplished essentially using the same method. You'll see what I mean by the IK tracking in the attached screenshot. The new IK targets really open up a great variety of effects that weren't previous available. You could with a bit of work (but less calculations) simulate hair using the billboard (and use the new alpha channels to simulate strands) method, and then set up an IK rig for the hair, and a lot of the movement would be calculated for you automatically, all you'd have to set up is the secondary motion and watch for mesh overlap.