Oooh. Gimme. Though I assume you get dumped on an island and not an item .
This would be cool, it should have lots of things influencing your ability to survive. Like your energy and nutrient levels should be a factor in how fast or effectively you can do things or how well you cope with a fever - dictated by what sort of food you can procure and whether you conserve energy by performing tasks efficiently or waste it looking around. There should be the occasional randomly generated injury that prevents you from doing certain tasks effectively - anything from a small cut that may or may not get infected to a broken limb that hinders your ability to build a good shelter for a while.
There should be at least three ways to ‘win’ and you should be able to set which ones you want be available in each game. You could win by getting yourself off the island and back to civilization, by creating and maintaining an effective signal and surviving until such time as a plane or a ship can be signaled (you could pre-set the frequency of traffic) or by (probably the hardest) achieving some sort of sustainability - you have a viable shelter, are reasonably healthy and have secured several good sources of food that long-term consumption of will not be fatal or very harmful - you could theoretically survive on the island and die of old age.
I wanna play.