Here's another way--requires sewing though. Pick up about a half yard of fabric--try to get something with a little weight to it--not neccesarily denim or cordoroy, but something heavier than a "silky" fabric. (remnants work fine) You'll also need a solid matching fabric.
Cut an oval shape that is roughly 2" wider and double the height + 2" of the size you want the bag to be. Then cut one rounded end straight across. Then cut a half oval of the same dimensions as half of what you already cut.
Next, Take the diameter of your first piece, add five to ten inches if you like long straps, and cut a strip in that length and 2-4" wide, again, depending on the size you'l like the finished bag to be.
Next, pin it all together. The long strip is going to basically "wrap around the enture bag and become the bottom/sides/strap. You'll want to sew this into a tube, turn it inside out, stitch your "hole" shut and press it flat before you begin the rest of the assembly. The long oval will be the back, and will flap over the front. The half oval will form the front of the bag. Use the solid material as your lining.
The decorate as you'd like. I used to make these when I was in junior high--I also made my own skirts, and matched my pocketbook to my skirt.
Anne