If you have paper, you can leave a trail stating your intentions, for the SAR folks, if you have to keep moving versus staying put. I also carry a grease pencil stub & soapstone

Other reasons to keep paper and pen/pencil:
1) It beats the hell out of leaving notes written with rocks laid out on the ground.
2) It is useful tender for making a fire.
3) It is easier to write up an updated Last Will & Testament (in the event "cutting your leg off" fails to free you), than writing it in the dirt w/your finger, it also will stand up to the test of wind.
4) You can attach calls for help to tumbleweeds.
5) It's great for drawing maps of your transit so you can find your way home.
6) Keeping a log/diary/journal of your adventures is always a good idea.

And if it is brightly colored, it can make a small signal panel. It might not be much, but a hot pink or blaze orange 3x5 flapping in the breeze makes a debris shelter something other an old log at 100 yards. String a couple of them together, and they make a bigger panel.

I have a couple of sheets of laminated blaze orange paper in my bag for that purpose. Already hole punched so I just pin them together with twigs, and I can write on them with a sharpie or lumocolor.

On a backpack, our entire group got "separated" from our leader (long story). He ended up ahead of us and going faster because he thought he was behind us. The rest of the group slowed down because they thought he was behind us.

I felt he had passed us on the trail without our knowing, so at lunch I went ahead to try to catch him (well groomed trail). After walking for awhile, I came across his note he left (initials and time he came through) in the middle of the trail which immediately let me know he was okay and how far behind him I was. I sped up and caught him chatting with another hiker going in the opposite direction. THE END

Check out any scubadiving shops in your area

Ironraven,
Did you hole punch the paper and then laminate, or laminate and then punch? Just wondering what would be the best for water proofness.

Here's some ideas of some slates we use for cavediving, I've been down to 190 feet with some of there slates and they are definitely waterproof. Both in notebook or slate.
http://www.diverite.com/catalog/slates/ac2061


http://www.diverite.com/catalog/slates/ac2064