The Goldilocks Bag pattern

Price: $6.00
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From Chris Bylsma Designs:

Fabulous felted tresses and a picot edge adorn this bag with a built -in security system: who would dare steal such a show stopper!

Sizes: 9 ½ " wide x 12" high

Gauge: 2 ½ sts/icn on #13

You will need about 230 yards of felting wool, plus novelties. To quote the desinger:

Start with a basic wool (not washable wool) and add whatever extras you want. Just maintain at least one strand of a wool or mohair as you combine yarns that will hold the non-wool fibers in the felting process. Avoid using eyelash in the felted tresses at the bottom and the picot edge at the top to prevent tangling in the felting process.

Remember that felting is more art and surprise than science so the finished size of your bag may vary as a result of different yarns, water temperature, and agitation. But that's the fun!"

Let us also point out, as another great option, that if you add beads to one or more of the stands of yarn, you will end up with a great peek-a-boo effect after the felting. It might be best to go with some of the larger beads, but any should look great and hold up.