I've often used a poncho hammock, like we used to do in Panama, with another poncho overhead as a roof. Works great most of the year in wooded areas.

Been running one or two USGI ponchos for individual camping for years. One of those "arctic shield" windshield covers (space-blanket like, for ice- proofing) works as a decent ground mat, when I need it.

My opinion: for extreme weather, tent's great, but two ponchos are very versatile.