While working as an intern at Panduit I helped develop and test heat shrink tubing to print on for labeling wires coming out of terminal blocks. If you can get access to one of these printers and heat shrink tubing it works beautifully and doesn't get tangled like the "flags" from wrap around tags/labels. Obviously , I think Panduit printers are the way to go
but a lot of other companies sell thermal transfer printers or other solutions to printing on heat shrink.
Here are some of the various labels that I have tested:
http://www.panduit.com/en/products-a...identification
I advocate the heat shrink though cause they are the easiest and nicest looking