Engineers Create Optical Cloaking Design For Invisibility This is one way to hide from night vision goggles. This says that you would be able to hide something as big as a plane and still see the background behind it. Heck, I'll settle for a cloak. I'll put my order in right away.
Until it works with multiple wavelengths I see the military using this for something like RADAR stealthing.
An invisibility cloak would be brilliant for playing a game of sardines Also, if you put it down, how would you find it again ?
I imagine you're still going to see the "outline" or any folds in the fabric due to lighting around them. Not so much a noticable outline at first but more so that you can see it if you actually look instead of glancing.