"A good poncho is a piece of gear that belongs on every packing list. Especially when the poncho does more than just keep you dry in the rain. 8 ponchos models in the survival check."
Survival Magazin 2/2016 tested 8 poncho models. Here what they had to say about the Exped test best:
Exped Bivy Poncho - Does it all
"The Bivy Poncho is length adjustable and the integrated waist cord allows it to be tightened close to the body - ideal in stormy conditions! The hood fits snugly and features a generous brim that keeps rain drops off ones nose. But the brim is not stiff. All seams are waterproof. The Bivy Poncho packs into its breast pocket, which can be used to store personal items when in "tarp mode". The hood can be cinched tight preventing water from entering the tarp. Multiple Bivy Ponchos can be buttoned together. It also doubles as an improvised bivy bag and can be used as a makeshift sail, floatation device etc.
Conclusion: The Exped Bivy Poncho is a multi-talent and functionally perfect."
Bivy Ponchos as "Tarp city"