I'm using a US issue type poncho. The material is very strong so it hasn't suffered from punctures even when bushwhacking. (it rides on the outside of my daypack)
I've also carried it as part of my in-case-of-snakebite gear when out with a group in rattlesnake country- makeshift litter for a victim.

But it's not as light as other products.

If I could change one thing I'd make it longer which would make it work better as rain gear and as a shelter.