For a few dollar more you can get a nylon poncho that will last many years. It also has grommets so it can be rigged as a tarp if needed. I keep a poncho in my pack, always. The one sunny day I decided to leave it behind on a trip, the rain came at the end of the day. Luckily it was warm out and the rain was light.

http://www.campmor.com/outdoor/gear/Product___43352
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No, I am not Bear Grylls, but I stayed at a Holiday Inn Express last night and Bear was there too!