Currently I use it on my bike to secure my stuff on the rear rack. After my experience with bungee cord I found the Figure 9 rope tightener works better and it is lighter weighing at 3.6gm.
Basically you can use it anywhere that you need a tie down and it comes in very handy to use. I noticed most people use it on the Tarp and Tent. They come in various sizes. Check out the Website for more information.