Making a simple purse was one of my very first finished projects as a knitter. It only uses 1 kind of stitch (garter) and you can use the finished product for just about anything. After a while you can modify it and come up with your own style. I modeled a pillow after this pattern, in fact. This is my rendition of this simple pattern.
Needle size: #8 (#9 or #7 would do fine, too)
Yarn: I used Lion Brand Homespun yarn. The pictures featured above are Calypso 353 and Edwardian 312. You can dink around and try different yarns, funky ones, more expensive ones. But this one works great. It can hold small pennies and such without it falling through any holes.
You can also make the flap by just decreasing so that it comes to a "V" - or you can make the decreases and when you have the 10sts, just bind off there. Ohhh, the things you can do. I like making different flaps and adding new buttons and such.
You can use these purses for: Money, computer disks, make-up, hair things, give it out as gifts, whatever. We use them for everything. I've added pom-poms on them to a little bit of "frilly-ness." They are fast to make and easy, easy. Have fun!!
Did you use this pattern? Drop me a line and let me know. If you have a picture, I'd love to see it.