Yes, if the extra piece is felted, it shouldn't ravel when cut.

A couple other options you might consider trying out:
Apply the magnetic snap to small patches of interfaced fabric (like regular woven cotton), and then stitch the patches to the inside of the purse.

Remove magnetic snap, and replace with stitched-in Velcro dot.

Good luck!

That is totally cute!  Great job =]

These are all fantastic!  I especially like the first one, and the straps on the second =]

I tested some ink pads, because I also wanted to make some fabric patches.  I have pictures and stuff of before and after washing.
Before washing: http://flickr.com/photos/kylanicole/2631375159/in/set-72157603991067128/
After Washing: http://flickr.com/photos/kylanicole/2632198116/in/set-72157603991067128/
Summary:
Black ink on off-white cotton calico fabric.  Heat-set, then washed in cold water with mild detergent; air dried.
Staz-On is dark on cloth, but bleeds before and after washing.
VersaCraft produces a nice crisp print, but is very light, and washed out almost completely.
VersaFine left a clean print, and was darker than VersaCraft, but still fairly light. Faded a little after washing.

I have yet to find an ink pad that I really love for cloth.  I don't think I have ever tried a dye ink pad, although logically, dye would be better on fabric than solvent or pigment, heh X]  I just don't have any dye ink *shrug*

Certainly one of the coolest purses on Earth ^_^

I use non-alcohol baby wipes to clean my stamps.

Thanks, everyone =]  I've been really down lately; it's nice to hear some friendly words ^_^

I was actually inspired by a guy on Flickr, lol...he makes stickers, and such, but I really dig his gorey-kinda-cute style (that may have only made sense to me, lol).  Anyway, here is a link to some of his stickers that I particularly like: http://flickr.com/photos/12464230@N05/page2/

I second Sheena!  That was the first name that popped in my head ^_^  ""Sheena is...a punk rocker, Sheeeena is...a punk rocker"  hehe

Thanks everyone! =]

I used a Speedball linocutter to carve this.  I used a standard Xacto knife on a couple really tiny areas, but not much.  I used blades #1 and #3 in my linocutter.  This is a Speedball linocutter:

That is really cute.  I can never make things look that symmetrical, lol   Your ladybug looks really pro, tho =]