Sweater Purse help

[anotherblonde007]

http://www.urbanoutfitters.com/shopping/product/detailmain.jsp?itemID=24469&itemType=PRODUCT&iMainCat=77&iSubCat=78&iProductID=24469

does anyone have any idea how i could make a purse like this? i love the material, and i guess i could use an old sweater, or maybe even knit it? im open to all suggestions

[xfoxglove]

I'm not sure if you want to do the leather panels on the sides, but it looks like you could possibly use an old turtle neck sweater to make this. 

That fold over flap around the top certainly reminds me of a turtleneck, especially because the ribbing is... tighter/smaller.

I guess if you just cut off the arms and made the torso part into the body of the bag, put a lining inside, added straps?

Just a thought.