This Suunto MC-2 Compass is what I rely on to stay found in the wilderness. Suunto is the leading manufacturer of compasses, and I have found this one to be very reliable. 
There is an adjustable declination arrow, a very handy ruler with measurements in miles, and a small lanyard. I attach mine to a longer lanyard, so it is easier to hold the compass with my arms full outstreched.
I’ve tried cheaper models, but I always turn to my reliable Suunto MC-2. I’d highly recommend this one, or one with very similar features, if you are serious about hiking (or any of the fun new sports like Orienteering and Geocaching!)
I have the Suunto Mc2 compass, model # SS004239001, USGS/NH.
Like other reviewers I have noticed lateral movement between the capsule and the base, but does not produce more than a 2 deg error. Suunto specs indicate that the compass is accurate within +/- 2 degs. I use the compass for SAR and also teach land navigation. It works fine for those purposes.
Hi Michael. The round clamp makes the lanyard “adjustable” so that it can cinch down around your neck, wrist, etc. Think of cinching down a stuff sack for your sleeping bag…same idea. Hope that helps!
What is the round clamp that comes with the lanyard?
I just got one on amazon on sale Yah!!!
Hi Shonda,
Thanks for the question. The Amazon link is correct. It is the Suunto MC-2DIN Compass.
Happy trails!
Hi, I am trying to track down your compass, but the link takes me to Amazon which gives a different model name. Can you tell me if this is the one you are talking about?
http://www.benmeadows.com/suunto-mc-2-global-azimuth-compass_s_101886/?srccode=cii_5784816&cpncode=32-153991302-2&CID=9OPPGR#mainProductBottom
Thanks, Shonda