That's what my friend tells me.
Ahem, let me pontificate. I spent 5 1/2 years in Southeast Asia.
Yes, that's what those Asian rattan swings with the hole in the middle are for. It's not to let the water drain out, it's not to let the snakes fall out, it's not so you can slip it over your little brother's head and watch him squirm, that IS what it's for.
Pontification done.