5 in 1 Poncho : Poncho + hammock + groundsheet + weather shield + rainwater catcher

I came across this versatile poncho that is first most a poncho, a hammock, a ground sheet, a weather shield and a rainwater catcher. See the following link for some more info:
http://www.firstascent.co.za/shop/5-in-1-poncho/

If it can be used as a hammock I can not see why it can't be used as a underquilt protector as well. I certainly like versatility..... :)

O yes, if you want to order, do not bother right now. I ordered today, but it was cancelled as they are currently out of stock. Sounds as if they will have stock sometime in the new year.

A silnylon hammock - that sounds very comfy!

Yep. A poncho does a lot.

My DIY one does duty as rain gear, undercover for the hammock (allowing a smaller tarp than otherwise and a support for a space blanket as under insulation above 50* F), sit pad, "front porch" for the hammock when it's not storming, pack cover, wind blocking layer, emergency water bag, emergency tarp, and bike cover.

Pretty much any silnylon poncho can do all of these things at about the same weight as the one you linked. And PU-coated ones (like the oldschool GI poncho I still have lying around somewhere) will do the same, except they're heavier (but more durable).

If you're looking for some, there're a bunchaton out there. Just a matter of a Google search. Sil ponchos will usually run in the ~8 to 12 oz weight category. Hope it helps!

I like multi use gear but there are some things to keep in mind. One of them is that they usually only do one thing at a time. I also question some things like a hammock with a hole in the middle. All joking aside. ;-)

And remember, silnylon doesn't breath.
Wouldn't be my choice for a hammock or underquilt protection.

Might be good as a vapor barrier though?