Here is my effort so far.  I decided to go with a slightly larger container.  Total weight of the kit is 6 ounces.

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Ditch Kit container (clear plastic, waterproof w/latch and paracord lanyard); Dimensions: 4.5" x 3" x 1.5"
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Ditch Kit contents:
TOP GROUP--
Waterproof tube containing 3 cotton balls (tube is a cut-down cigar case..black stopper below)
Wetfire tablet
44 mag shell casing with waterproof matches and stopper
Matches striker strip
Firesteel with small Dremel sanding cylinder striker
MIDDLE GROUP--
Duct tape mini-spool
Safety pins (3)
Signal mirror with hole in the middle
Paper clips (3)
Twist ties (2)
Blank paper and mini-pin
Sewing kit with needle, thread, safety pin and button
Fishing Kit (details below)
LED bulb with two tape covered button batteries
Compass
Pill container for iodine tablets (cut down pin barrel with stopper)
BOTTOM GROUP --
Plastic container
Pocket Survival Guide (magnifying lens, 3 laminated cards with minimal first aid, signaling and a few survival tips.  top card also has a small dial compass to float in water)
Bandaids (3)

FISHING KIT:
Round mint container with snap-on lid
Plastic sewing bobbin with 30 yards of fishing line
Sliver mini-spoon lure
Gold Panther Martin lure
Black Woolly Bugger fly fishing lure (large)
Small Z-Ray-type lure; green with black & yellow spots
Fish hooks (4)
Sinkers/Split split shot (5)
Mini-bobber