Here's what they said:
Leave it to Exped to make a rain poncho cool. I don’t know how, but they upgraded this backpack staple. The Exped Daypack & Bike Poncho is a high quality rain poncho that packs down small. It’s perfect to throw in your daypack to have just in case. The material has a really cool feel to it–it’s super thin and it makes that crinkle noise just a little bit, unlike other tarp-like ponchos I’ve seen, it’s pretty quiet. It feels nice against skin and is breathable enough for warm climates, working well as a summer rain poncho to keep you dry in a downpour. In cooler weather, just wear something warm underneath and you’re good.
As the name implies, it’s designed to accommodate cycling. There are loops for your arms, so that the poncho holds it shape while you’re on your bike. Reflectors on the sides and back help to make you more visible to cars. The pocket, which doubles as the stuff sack, is large enough for your phone and is accessible from the inside.
Since the poncho is designed with cycling in mind, the hood offers great peripheral vision. It’s also made big enough to cover your backpack, so if you’re hiking and run into some weather, it will keep you and your stuff dry. It packs up smaller than a Nalgene bottle and is easy to re-pack after use. You’re not going to find a nicer travel rain poncho out there.