Hm, this is an interesting thread. I think I'll have a go; but I'll be semi-cheating and thinking of two or three different stores where I'll be buying the junk, er, gear:

Dollar Tree:
Cheap rubberized flashlight - $1
Batteries for said flashlight - $1
2-Pack of butane candle/grill lighters (or 4-pack of disposable Bic knockoffs) - $1
2 Liter-size Bottles of water - $2
Dish towel, preferably in garish color (in place of a bandana or kerchief and for signaling and tinder) - $1
Nail care kit (includes clippers, scissors, tweezers, and file and sometimes even a small plastic mirror) - $1
Mini sewing kit (includes needles, thread, safety pins) - $1
Disposable poncho - $1
Box of plastic trash bags - $1
Roll of speaker wire (not as good as 550 para-cord, but whataya want for $25?) - $1

Evil Empire (AKA WalMart, my favorite store in the world):
Winchester or Ozark Trail fixed-blade knife - $8
Johnson & Johnson pocket-size first-aid kit - $1
Tube of Equate bacitracin triple anti-biotic ointment - $2.50
Box of Quaker Chewy Granola Bars - $2.50

Total from Dollar Tree - $11
Total from WalMart - $14
Total crap, er, kit - $25

I went with cheap crap on all of this, because this is, apparently, meant as single-use, light-duty stuff in case of emergency, and because of the limited budget.