Don't get the crinkly throw-away mylar emergency blankets, get the Adventure Medical Kits 2-man emergency blanket. I love it and have used it for everything:
- as a tarp
- as a ground sheet
- as an emergency blanket
- as a sun shield
As a previous poster said, you should wrap your body in it wearing only a layer of thermals, with everything else outside of the blanket. Faced reflective layer out, it is a superb sun screan. It's durable enough as a ground sheet to last 50-100 days on the trail. As a minimalist tarp (sheet bend knots on the corners for tie-outs) it works fine, if you're not faint of heart. Best multi-purpose item ever.