Yeah, respectfully, I'm a little cautious about revisionist history, as the final accounting tends to point in an inconvenient direction. But hey, that's me, YMMV.

Returning to the OP:
I think the best bandana is a chunk of synthetic chamois. It weighs nothing, and it absorbs many times its weight in liquid. So, it washes and dries skin and hair, it absorbs blood if needed, and it is largely indestructible. If only it came in red, it would be perfect.