It's a very bad idea. I experimented with all the BS internet wisdom regarding this and found it all to be bunk. I suspect the "string method" and "tp" method were presented as tried and true by bozos who had not actually done it, and thought it would work.
The problem with the purification methods other than a true centrifuge or refining, is that particulate hydrocarbons will remain and plug up your fuel filter in SHORT ORDER. I mean in a tank or two. The second issue is that this crap will also coke up your injectors. I knew this when I experimented with it, but had no lost love for the engine I was using it in.
The lubricity is fantastic, though, and won't hurt your pump, I'm pretty sure. If you have a 12v, with two port injectors, it will be more forgiving as the 2 port's are bigger and harder to coke up. That's why wvo is less of a problem in them.
More trouble than it is worth, in my opinion, unless you have a lister or something that doesn't have a REAL fuel filter and the fines can go through without plugging stuff up.