I have been thinking of getting one of these and recently made the purchase, unsure of the quality that I was expecting. It arrived yesterday and I must say that for the price (under £10.00) I was pleasantly surprised.
I have seen these put to good use on the campsite, from retrieving buried pegs to digging small channels round a tent to direct a flow of water. For me in my Cub leader role it is a great tool for removing a small section of turf and soil to provide a sheltered cooking area. At least this way, when all is done, the soil and turf can be replaced as if you were never there.
The folding spade is made of steel, with a decent rivet holding the multi-use head in place. The aluminium collar screws up to lock the head in place depending what you are using (spade or pick). The handle simply screws on, making a total length (As below) 40cm. The pouch comes with a convenient belt hook.
There are more expensive and probably better quality folding spades out there, but for the price, this is a great gadget that will also live in the car during winter weather.