This only took me 5 months to make (compared to nearly as many years for the poncho!). I am in love with it. The purse I used before was cute, but not nearly big enough for a pack-rat like me. Plus, being a mom means you need to have a bag of tricks with you at all times, or at least a snack or two. Plenty of room for that here, plus all of my stuff, and it's just more my style.
The pattern is called the "Lucy Bag" by Two Old Bags. It was relatively easy (except for the crochet cast on, as I do not know how to crochet), just took a while.
I bought the yarn at Babetta's. It is wool hand-dyed in Uruguay.
Before felting (3 times):