While rarely practiced in western society these days, occasionally parents will choose to have a Lotus Birth. This means not clamping or cutting the cord at all and waiting for the cord to break down and naturally separate the placenta from the baby (taking about a 5 to 10 days).
With a Lotus Birth, the placenta is normally washed and salted or smothered in a herb (such as powdered rosemary) or some essential aromatherapy oil drops (to help with the smell), at least a couple of times a day until the whole placenta separates. During the time it is attached to the baby, it is wrapped in a towel and / or in a plastic bag so it can be held comfortably with the baby while it is being fed or cared for. This is done until the cord shrivels, dries and separates from the baby's belly button.
Lotus births are documented in the Buddhist religion as part of nurturing good health and a long life. Some North American Indians believe that the soul lives in the birth organs. They do not cut the cord and once the afterbirth dries and separates it is kept by the mother and arranged in a sacred fabric that she wove during the pregnancy. The bundle is then secretly buried and retrieved whenever the tribe moves. It is presented to the 'baby' when they reach adulthood, as a sign that the mother has protected their soul, and now they must protect it themselves.
Other reasons to have a lotus birth include wanting to continue the natural progression of the birthing process. Others believe that the baby and placenta share one energy field and if the cord is cut this energy field can be disturbed, making the baby vulnerable to digestion problems and emotional upsets. (Some sceptics see a Lotus Birth as merely a way of giving the partner something to care for in the early days after the birth).