This was an interesting purse.
All of this holding two strands of wool yarn together, even when adding the multicolor yarn for the center stripe.
First of all I knit the base nearly twice as long as the coco bag free pattern (see pattern: COCO Bag pattern) 5 rounds on circular needles, then knit them back into the base in a "Tuck" pattern to give the base the extra rib.
Once I had the base completed, I knit in the round bringing up the sides. Explained in Coco pattern.
Then I started knitting around on circular needles but about every 10 rounds I decreased 2 stitches just before the turn and just after the turn on both ends. (that's 8 decreases - knit 2 stitches together x2, at each corner.
Then I started adding sock yarn once I determined I was about 1/3 done with the height of the bag - remember the bag will shrink in felting by 30% in height and 25% in width when washed in hot and cold water.
At this point I knit and continue to decrease by 8 stitches about every 10 rows, but keep bringing in the additional 3rd strand of a multicolor sock yarn. I drop the sock yarn and finish the last 1/3 with two strands of original color, end bag with an I-cord finish. knithelp.com explains this method.
The sock yarn??? Leftovers from my granddaughter's hoodie, SAIGE from Berroco.
I took the yarns to my weaving loom, dressed my loom and handwove the strap and attached it with some rings from an old belt. Added a big button and a crochet loop to latch the purse.
The solid deep green yarn I bought off of Etsy.com from a lady who upcycles wool sweaters back to yarn. AWESOME.
Finishing touch - braided my fringe on the strap. That is a really fun technique.