This waterproof jacket from Vamoose doubles from keeping you dry and protected in the rain and then turning into a lightweight backpack.

The jacket/backpack is made from windproof and waterproof fabrics that are breathable, and its exterior pockets remain on the outside when it's folded away into the backpack. You can use it for carrying smaller items. But at $450, you might just be better off carrying an umbrella. [Vamoose via Gizmag]