I'm going to assume that you meant this, in the context of being a developer... Some of this advice would not apply in other careers (for example: law). I am also assuming that you are worried because this is a apples to apples comparison, not a "return to same very large company", "return with promotion", "return for new job role" question.
You should carefully consider all the related factors, but from my experience, here is what I think is important.
NOTE: I have returned to one company I worked for, I have declined to return to a company I have worked for, and I have tried unsuccessfully to return to two companies I worked for.
Sometimes you leave, and people really want you to come back. Other places, they might miss you when you leave, but be less happy when you return. Some places will undervalue your work and be grateful if you come back.
In each case the most important factor is: how this fits in with your career, both short and long term. People's feelings are important, because they affect your daily happiness, and your ability to find future work and/or get promoted. You want your career choices to be positive and win/win whenever possible.
In the short term, times are rough right now. If you only got one offer and you need work... that is easy. Eating and paying rent is positive.
In the long term, you should think: Why did I leave? Why do they want me to come back? Am I working on the same project/group/product? Is coming back definitely a better opportunity than my other choices?
Finally, you must ask yourself:
"When I (eventually) leave and interview for another job, will I be able to sensibly and honestly explain my choice to future employers?
You should imagine worst case outcome. If you cannot, at this moment, imagine how to explain, in an future interview, why it was the right choice to go back, even though it went horribly bad, you should not go back.