Well you'd need a high resolution spline with a reactor rope modifier and it will need to be in a reactor rope collection. The rope will need to be constrained to two objects using the attach to rigid body constraint in the rope modifier rollout. The rigid bodies you constrain it to will have to have weight and be added to a rigid body collection. Your pulley will also need to be a rigid body, though whether it moves is up to you. It would probably be easier to have it as a stationary collision object for the rope.

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Hey look at that. Thanks a ton, boss.

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