So I made her one out of a pair of knit pants that were too small and I never liked, and I'm not sure why I brought them to Panama. (!)
The knobby "button" here, was actually at the bottom of the pant leg, as decoration. Now it's an outside pocket, as well as the closure for the top flap. I carefully cut the pants up, trying to make the best use of the fabric and seams already there. I hand sewed it up one afternoon, and presented my little girlie, her very own purse.