Silent /k/
Contributed by Karen Darcy
Three pieces of string walk into a bar. The first one orders a beer, but the barman says, "We don't serve string here."
So the second one tries and is turned away in the same way.
The third piece of string lies down on the ground, rolls around, gets itself all frayed and tangled up, then goes and orders a beer.
The barman, by now exasperated, demands, "Look, are you a piece of string?"
And the string replies, "No, I’m a frayed knot."

Phonetic Point: The silent /k/ in knot makes it a homophone with not. Note also the linking, which results in a frayed and afraid sounding the same.