This is an original as found 1952 dated (it is very hard to read due to fading) US Army Poncho. It is nice and flexible and not dry rotted or cracked.  This is in good used condition.  This of course has that rubbery smell from the vintage rubber which is normal for these. This has the ear flaps on the hood part and a reinforced strip across the chest for the draw string. The draw string is intact.  (see pictures)   When I hold it up to the light I saw one or two pin holes.  I have found a 6" straight tear which I have marked. (see pictures) This is a very simple fix.   This could have been used in Korea and or Vietnam.  Great item for your Korea/Vietnam collection or reenactor use.  
This is sold as is with no returns.  

Note: I have 12 +/- ponchos listed. They are all Korean war era except when noted. They are all priced due to condition. Please Take a look at my ebay store.