I rescued 2 orphan quilt squares from a scrap bag (given to me). After squaring them, I applied sew-in interfacing and backed them with pre-washed flannel. I did 'stitch in the ditch' to get a quilted feeling. The lining (on the right) was cut from an old skirt which my husband never liked -- so I've given it new life.
Draw strings were cut 2" wide from red fabric, then double folded and wobble stitched to close the edges. They were then attached to the bottom corners and threaded through the casing (sewn from fabric scraps and attached to the top).
Using it as a backpack leaves my hands free for wandering through the quilt shop (which I did today) or it can be carried as a purse. And it was free!