These hammocks are made from parachute silk (nylon). They pack down into a small pouch (below) which is attached to the side of the hammock. Their packed size is 7 inches by 5 inches diameter, and they weigh 550 grams (less than 11/4 pounds).
They require just 9 feet of space to hang them, and are rated for use up to 300 lbs. A backpacking hammock is exactly what you need when a very small stored size is of paramount importance.
BACKPACKING HAMMOCK $79 Canadian