Here's a picture of my bailout kit: https://i.imgur.com/KvUY5Co.jpg

I found a handy pouch that attaches securely to my parachute shoulder strap.. I added zip ties to make sure that it can't fall off. It has a pouch for my InReach, and a second pouch for the following:

Two Whirl Pak water storage bags (can also be used over socks when trudging through snow)
Water purification tablets
Petzl emergency headlamp (27grams, and can be stored w/ battery for 10 years)
Bic Mini lighter, spark wheel, tinder
Waterproof paper + shortened pen (Wet Notes)
First aid kit
3ft bright yellow duct tape
8ft orange streamer
Emergency blanket
Mini signal mirror
Knife (Gerber STL 2.0, 1oz)
Snack Bar (not really necessary, but it fit nicely)

In addition, I fly in gortex hiking shoes and synthetic clothing; basically, whatever I'd want to hike in. I also carry my phone in a zippered pocket, and my phone has Gaia (backcountry navigation), compass, and inclinometer apps. The parachute itself is an excellent source of cord, insulation, or shelter.