It's a hood for mozzies.
In the early season of summer, the mozzies can be nasty. Nothing spoils a good yomp in wet soggy old growth like being eaten alive by little critters. On a recent trip to Rampart lakes, I received over 200 bites on my back.
Backpacking light makes an amazing mozzie-net that is only 0.3 oz. This net is also amazingly clear to see through.
At 0.3 oz. it's a cheap insurance policy.
Available from Backpacking Light for $18 each.