I had one. It worked to help me spot my luggage faster on the carousel at the airport. That's what I wanted it for so I was happy. It got torn the last time I flew so I don't have one right now.
Also - a heads up - When I checked the bag at my airport, the person checking it in said if the TSA takes it off for checking out my luggage, they probably wouldn't put it back on so it would be lost at that point.