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.