Hard to lose. Great as summer day hiking what if rain gear, quick and dirty rest shelter or shade, or one size fits all rain gear to keep on the trunk.
This one is a little short for a poncho shelter, but I've sat out a big rain with a poncho under a tree with my pack between my legs, all all dry as a bone.
A few years ago, we were at an outdoors concert at the zoo with beach chairs and ponchos in a downpour. Joan Baez stepped up to the mic, dubbed us all her Beautiful Seattle Rain People. As she started to sing, the rain quit, the clouds parted and we ate our picnic dinner to "Diamonds an Rust" and dry too :)