A Treasury Of reports on the new ponchos by Brooklyn-born, Japan-based accessory and stationary line Postalco. "For me, a proper poncho is a playful yet practical pairing of Christopher Robin-like whimsy and British Army Recruit-style ruggedness." Like all of Postalco's products, it's as pragmatic as it is beautiful. The rain cape extends in the back to fit over a bag, comes with two loops to hang it open (allowing faster drying) and when not in use, can be folded into its own pocket.