Bacon Bits
Legend
Thankfully I've never had this happen to or by me, but it got me thinking:
When your party is wiped out, if you continue the adventure, where does your next party pick up the plot? Back at the beginning? At the most recent "checkpoint"?
Usually the session ends after a TPK.
The next session, if there was a legitimate DM mistake which resulted in a TPK -- which has only happened once in the past 15 years or so -- then the PCs wake up at the start of the same day with the events of the fateful encounter a horrible premonition of a possible future. The DM modified the repeat encounters to keep them fresh and to correct the mistakes. DM mistakes would be things like, "Oops, I didn't realize that was a once a day ability. That makes a lot more sense," or "Oops, those were the Dire Champion Mook stats, not the regular Mook stats."
If the players died as a result of their own poor choices or the result of the dice, then the DM typically asks: "So, do you guys want to continue with these characters? Do you want to start new characters completely? Do you want a different campaign or should someone else run for awhile?"
If all the characters want to continue: The PCs are unconscious/captured. In the case of monstrous opponents that would eat the PCs, the monster is slain almost immediately after the PCs drop and they are rescued (perhaps by less-than-friendly rescuers).
If there's a split: The PCs of the players who rerolled are dead and gone, while the others are unconscious/captured. Play resumes with the new characters finding the unconscious/captured PCs. In the case of monstrous opponents that would eat the PCs, the new characters arrive immediately after the last of the old PCs drops.
If none of the characters want to continue: The PCs roll new characters. It may be a continuation of the same story or something unrelated.