This bib is great! We had the monkey version, and liked it so much that we recently bought the owl. It has all of the things I normally look for in a bib--it's big enough to cover a meaningful amount of her chest, it washes easily, and has a big pocket to trap dropped food. The velcro is the soft, non-grabby variety. (Why don't all baby items feature this velcro? It's awesome!)  I wouldn't exactly call it waterproof, but we've also never had anything soak through--she's eaten extremely soggy frozen/thawed strawberries in it, and none of the sticky red mess ended up on her shirt.

But the thing we love most about this bib is it's portability. The whole bib can be tucked into a pocket on the back. The resulting package is really small and light. And because you turn the pocket inside out to tuck the bib in, any mess on the bib gets completely contained. So it's perfect for throwing into a bag. I have one in my (very small) purse at all times, and because it's turned inside out after use, I don't worry about what is on it when I throw it in the bag. I have no idea why other companies haven't copied this design--it's so brilliant!

The only downside of the Skip Hop bib is the price--it's considerably more expensive than some cheap-o bibs you might buy. But we've never regretted buying them. We use them 10 times more than any other bib we own, because they're so much better!

Update: 2 years after initially writing this review, we're recycling the same skip hop bibs that we used for our daughter--this time for our son. They have held up pretty well, though the color has rubbed off on some of our favorites (the owl is particularly worn, the monkey, ladybug, and bee have held up better). We love them so much, that we regularly buy them as a new baby present. They are one of the best baby products we've used.