I have the old school yellow one, and it was fine until I ripped it on purpose to let it breathe a little better.. I fixed it, I taped it with Mickey duct tape, now it's super personalized.. plus, it's yellow, so I stand out now, as opposed to before, lookin' like a pack o' ducks! (I also made the hood bigger because I tend to have my hair in a pony tail, and that pushes it off my face and I get wetter, so now, it works for me!)
They're sort of opaque, clear now.. I think it's because of 2 reasons, 1-slightly less expensive to make 2- mildly see through, so as not to allow folks to shoplift easily... you'll notice that they've also started making clear "Disney Parks" bags for when you ask for a bag and haven't made a purchase. I think I remember hearing a story (and I'm not reporting it as fact, by no means) but I think i heard something about someone being "attacked" while in the park, and they weren't able to identify the attacker easily b/c of the yellow ponchos.. I have no proof it's not just an urban legend, but it kinda makes sense, right?
so for those who claim they're too bulky after you've used it... I've found that folding it in half and again, in the same direction, and then rolling it up and securing it with a rubber band or in my case, an ever present hair band, it's easy to keep it small enough that it doesn't disrupt everything else in my bag.. I've taken it with me on every trip for nearly the last 10+ years!
Here's my slightly redesigned yellow poncho, rainy day, standing in line at Night of Joy last year selfie
(clicky to make biggie)