As above. I had theory on Thursday and this came up. It looks like a tape measure and i quote ''is a precision clearance gauge for the measurement of clearance between fitted surfaces''.
cant see why youd need it if youve got a micrometer and feeler blades,
am i missing something? 
micrometer and feeler gauges are metal, and if used incorrectly can actually damage the surfaces that they are measuring the gap between
You also need full access to both surfaces so you can insert the micrometer "feelers" or the feeler gauge "tongue" ... plastigauges get around this access problem, especially when trying to measure bearing surface clearances, when access would be extremely difficult.
Imagine trying to get feeler gauges/micrometer to measure the clearance in a split bearing !! With plastigauges you can fully assemble, then disassemble and by reading the plastigauge you KNOW what the clearance was /will be when re-assembled .. even inside a closed surface.