A multi-use tourniquet that may be first used in conventional manner to draw blood from an extremity, then reused as a compressor for a bandage applied to the resulting wound. The tourniquet includes a band of stretchy elastic material, typically carrying an adhesive that can attach to the surface of the band at a plurality of locations effective to constrict a circumference of the extremity. Desirably, the tourniquet is structured such that no adhesive is applied to the skin of the patient during use of the tourniquet. Certain tourniquets may carry decorative surface ornamentation.