Five flavonoid compounds were isolated from two Polypodium species (P.decumanum and P.triseriale) with the common name Calaguala. Structure elucidation was carried out using different NMR techniques and revealed the presence of one new glycoside (kaempferol 3-O-beta-D-xylopyranosyl-(1-2)-beta-D-arabinopyranoside) (1), two known flavonoid glycosides, rutin and kaempferol 3-O-alpha-D-arabinopyranoside (2,3), the trimeric proanthocyanidin, selligueain (4), and the coumarinic acid derivative, melilotoside (5). The compounds were tested for their activity in PAF induced exocytosis in human neutrophils but none of the compounds showed PAF specific activity. Instead, they showed more general effects on the neutrophil including inhibition of the spontaneous elastase release (5) and potentiation of the release induced by PAF (1). Selligueain was found to inhibit the proteolytic enzyme, elastase in vitro.