Here is the bag I sent to kiwimonkey. I had fun doing it, and, as usual when I'm sewing, learned a whole lot!
Here's the bag:
The body of it is knit, the handle is made from something you would use to make a curtain tie-back (with little bits of the lining fabric over them to cover the place where they're joined to themselves), and the button closure is made from a hair elastic.
Here's a close up of the bag, to show some of the stitch detail more clearly.
Here's a shot of the lining. It's more silver in person. I had envisioned something much different, but the silver on silver part of the fabric reminded me of the cables on the bag.