The poncho that I'm wearing is one of the most popular designs here in Taichung, and for good reason! It has some very nice features. It comes in multiple color patterns, and includes a detachable hood with a plastic bill (also detachable). It also has a zipper / button-down front which allows the poncho to open up and keep your legs dry if you are riding on the back of a scooter, straddeling the driver. (Ponchos without this feature will ride up causing your legs to get soaked... this I learned the hard way)
My favorite feature of the poncho is a small square of clear plastic on the left wrist, allowing the wearer to check the time without exposing his wrist or watch to the rain... ingenious.