It doesn't look like much all folded up, but this is a full-sized poncho. It is thin plastic, yes, but even that can be extremely valuable in keeping you dry and retaining body heat to avoid hypothermia, and for making a night in the open more tolerable. I also have duct tape in case I need to repair a rip.

I like the bright orange color, which makes it easier to see, so you can also lay it out on the ground as a signal panel to attract the attention of search aircraft during daylight hours. Just be sure to weight the corners down so it doesn't blow away!

And in a pinch, squares of it could be cut off to improvise solar stills as a way to collect additional drinking water. I have always been told that a number of small solar stills are better than one big one, even though it means digging more holes.  I have also been told that unless you are in a really, really desperate situation, the amount of sweat and energy you expend to dig the holes for solar stills is not going to be balanced out by the small amount of water they will produce. If that is your only option, then by all means go for it, but keep in mind one of the cardinal rules of survival: Ration sweat, not water.

I opted for this poncho over the traditional 'Space Blanket' because it weighs less, costs less, and takes up a lot less room in the kit. I have read that Space Blankets may not always be the best choice in a survival situation anyway, because despite what the manufacturers say, you aren't going to get toasty warm wrapped up in one on a bitter winter night. They provide an excellent wind and water barrier, but you're only going to get warm in one from your own body heat.