The R.A.T.s Tourniquet has a lot going for it. It is affordable, easy to carry, and very fast to use. Its form is very different than most TQs (tourniquets) on the market. It consists of a metal cleat and a long, flat bungee strap which begins to slow arterial blood flow as soon as it is wrapped around the extremity before it is fully tightened and secured.
See the video below to see how it works and check out RE Factor Tactical to pick one up.