I had a sweater. I liked the color but hated how it fit. I saw this post:
http://www.craftster.org/forum/index.php?topic=280721.0 and decided to give it a try! Most of the sweater-to-purse recons I found online were just two squares sewn together. I loved what she came up with!
Here's mine:

I never remember a before pic, but I did manage an in-process pic. This was after I drafted the pattern.

Oh, and have you seen what Apple charges for the cozies that look like sweaters!?!?!?!?! Ouch!