I'm not a big fan of a lot of the bags on the market, they're all very similar and traditional. There are also a lot of great, fresh looking styles, but they demand a higher price. When you have the skills to do it yourself, you should. The result will always represent you better than a store bought product.
These two pictures to the left show the knit part of the project before and after felting. I left blank spots in the textured areas so that there was a place for the straps. As usual, most of the shrinkage was vertical. I made a ridge along the bottom of the bag to add shape to the squared off bottom panel. This attempt to shape the felt did not really work and the ridge kind of blended into the felted fabric. Next time, I would add more purl rows.