I'm not sure where we got the term. It might be an "Americanism". ;)  I'm just guessing here... But, Hippy's in the 60's would make necklace&rsquo;s out of daisy's, tying the stems in loops.  I think the term made it into the lexicon as to 'chain together', 'Link up one after another'. 

In electronics terms it just means "in series". 

Until you just asked, I never really thought about it.