Purse made from old sweater

Purse made from old sweater - maybe could crochet something similar (minus the cloth trim at the top)

Custom Felted Purses Designed Using Your Own Sweater (Or A Family Member's).. $50.00, via Etsy.

rescued sweaters fantastic site where you can purchase up-cycled purses, hats and scarves made from cashmere, wool, angora and cotton!

Renegade Seamstress Winter Tote from a sweater

Speaking of Handbag Refashions…

Felted Wool Purse Recycled Blue Sweater by BozzieBoyDesigns

I like the flap on this bag with the beads. The weight of the beads would hold the flap in place somewhat