Although, by God I do not need another bag, I had to try Made by Rae's free Buttercup bag pattern. It is the cutest little purse and in it's original version only uses a fat quarter of fabric for the exterior and slightly less for the lining. If you haven't yet, you really need to try this pattern. It is so quick and easy, you will be done within an hour.
Aside from the original version I also enlarged the pattern on the copymachine to 120% and made a slightly bigger version (And NO!, I really don't need this bag either...I smell another giveaway in the future...). I really like both of the bags, though. I used a homedeco fabric from Joann Fabrics for the exterior and regular quilting cotton for the linings.
Go, take a look at the Buttercup Bag Flickr Pool for more great fabric choices.
PS: Don't forget the giveaway. It will be on until Saturday.