As a heat reflector. Keep in mind that any spot of the Mylar that touches something will lose its reflective properties then transfer heat directly. Like if you wrap it around you, all the spots it touches you will transfer heat out, but all those areas that are loose to where it isn't touching you will help reflect the heat back to your body.
It will also reflect heat away from you if you are wrapped in it and in front of a fire. For that it is better to use it as a reflector on your side that is away from the fire. Basically, wrap it around you but have the fire side open to the fire.
>>1700107The use in your image is the best during non-medical emergencies. Otherwise, wrap up if someone is going into shock or can't maintain their body temperature without it.