Uhhhh ok..?

Weights nothing and takes up no space,
Slingshot,
Pole spear,
Multiple tourniquet's when cut up,
Can be used to apply tension to certain types of traps,
Sealing up the ends of clothing to prevent creepy crawlies from getting up your pant legs and such,

Cant really figure out much more then that but really it is a 5 foot by 6 inch band of elastic Im sure theres plenty other uses. The fact that it can be used to make multiple tourniquets for its size and weight sells me on it alone personally.