This pattern was in both Knitter’s Magazine, Winter 2000 and in the book Bags: A Knitter’s dozen. The original purse (magazine) was not felted, and the book version is felted, so a tip is to run some non-felting yarn, like a cotton yarn, in the eyelet holes BEFORE felting, so your eyelet holes will remain open. Otherwise you will not have a way to weave your draw string through, and then will not be able to draw the bag shut. On that same note, if your bag is felted it may become too stiff to draw shut, so then ignore the draw string and just use it as a flat bag and add a strap.