This guy has come up with a solution to the problem, of course, he uses three space blankets and a tripod, still, I like it.
What I like: Use physics (heat reflection properties of the space blanket plus the fact that hot air rises, so you sit in the upper part of a narrow triangular shape). The chair also gets you off the ground.
What I don't like: Duct-taping together three space blankets is NOT something I want to do in bad weather. I am unsure how good the construction would work in the wind. The construction could be made more wind resistant by adding logs and branches on top of the space blanket, I guess.