The fabric in the GT UL is very nice. I have really enjoyed it.
But if I was to make things from scratch I'd use this: "68 INCH WIDE ACU UNIVERSAL CAMOUFLAGE 30 DENIER NYLON RIPSTOP 1.1 OUNCES A SQUARE YARD, THIS IS A LIGHT WEIGHT RIPSTOP FABRIC WITH A PURE FINISH
Price: $1.25 A YARD. Temporary out of stock [sic]"
It's not available here: http://www.magnafabrics.com/category/camouflage.html
I'd make a double layer hammock, weather sock, and then a DIY silnylon tarp out of it.
One could do a pretty good business with lightweight and cost effective camo offerings.