i have a stearns poncho from wal mart that has lasted for 5 years of abuse. they came in blue and camo when i bought it, i think that they come in yellow now. but you mean like the old school ones, that really did last a lifetime? i haven't seen those for sale anywhere

In any situation, including a "wildernes situation", there are probably several immediate concerns you may want to be ready for. The shelter can be taken care of, to a large part, by the clothing you choose to wear in the conditions you are exposing yourself to. It would also be good to be aware of other natural hazards in the area (terrain and animal) and be able to handle certain life-threatening medical or human-confrontational situations. You could die quicker by an animal or human attack, a poor choice regarding terrain navigation or a heart attack than you usually can by not having shelter.

Water and fire, along with references, tools, navigation, communications and food usually are of lower importance than the things that address the areas of personal security, medical and shelter, imho. The situation will dictate which of those is the priority, but a lack in security and medical can usually end your life quicker than a lack of shelter.

A pocket size flashlight. Most of the true emergency situations I might face in my life involve escape from a building or tunnel.

A knife. Any size, fixed or folder. With a knife I can make or rig virtually everything else. Without a knife, I would have to try and find a rock to make sharp.

Compass, eh. I can figure directions close enuf for traveling. Lighter, probably, but there are alternate methods. Flashlight - unless it was that tunnel or building - something I can live without.

And my wife wonder why we have so many knives in so many places.

What kind or real world lost or stranded situation?

If I found myself on an inflatable raft in the middle of the Pacific Ocean, I would like to have a desalinator, a shade cloth, some fish hooks and line, and a signal mirror.

If I were a survivor of a plane crash in the boreal forest, I would like to have an axe, a lighter, a .22 rifle with ammo, and a warm waterproof jacket.

If I were in the deep hot jungle, I would want a billy can, a lighter, a knife, a hammock with mosquito net, plenty of insect repellent, and a compass.

In any case, a good attitude!

"Stranded
Stranded
Stranded on a toilet bowl
Stranded
Stranded
Stranded on a toilet bowl
What do you do when you're stranded
And there ain't nothing on the roll?
To prove you're a man
You must wipe it with your hand
Stranded
Stranded on a toilet bowl !" -- Red Hot Chili Peppers

Rule of threes again: you can die in three minutes without air, you can die in three hours without warmth, you can die in three days without water, you can die in three weeks without food. So, what tools can you use to survive?

Conventional wisdom is a substantial knife is the best survival tool, but you can learn skills to make up for almost any tool.

My vote is an easy way to make fire.

Only one item? What about SSS knife (http://www.topsknives.com/product_info.php?products_id=207)? Knife plus ferrocerium rod, signal mirror and sharpener integrated into the sheath. Not bad starting point for survival I guess.

But I think I like the idea of carrying a PLB (already mentioned by KenK) a bit more (of course the rule of the game is still "one item only"). Nothing beats good communication device when you are stranded somewhere in the middle of nowhere. But the SSS knife is the runner-up in this game.

Let us hope we will never end up being stranded with only one item though .

for a everyday item--no big bucks PLB kind of stuff but just pick it up off the desk on the way out for a hike that go's bad it would be a lighter.i can always kick down enough brush to make a shelter and bust sticks for a fire that would keep me warm and dry and make smoke for a signal.

If given a selection of simple survival gear and an opportunity to take only three items in anticipation of being dropped naked into a temperate forest with water easily available, perhaps near a river or lake, I think it would be: lighter, knife, rain poncho with a liner.

Preferably simple, robust and reliable models of each item.

Thin strips can be ripped from the liner or poncho to get basic footwear and braided into light lines to tie things up with but I would search pretty hard for suitable alternatives (grasses, vines, bark, etcetera) to avoid having to sacrifice my equipment.

Footwear and a means of containing water so it can be boiled would be my next concern. Shelter, followed closely by exploitation of any potential food supplies I may have observed, would be the next concern.

If I got really lucky and there was plentiful, and naive, game I might trap, tip up and dead fall traps are pretty easy to rig but bait is often the biggest impediment, skins might help more permanently solve the water and footwear issues.

A lot depends on the specifics of the area and season. Knife, lighter and poncho with liner would tend to be near the top of most lists and it would, IMHO, be a fair to good choice for a wide variety of locations.

Actually, a "gear" item is 5th on my list. In any and every situation I hope and plan to have the following things:
1) A working brain (can't do anything if you are not clear headed)
2) The will to live and not quit.
3) The skills, knowledge, experience, and attitude to deal with most anything.
4) A fit body able to do what I ask of it.

Now the gear:
5) A knife