I had about 100 yards left over from mittens. It was sport weight 100% wool. I combined it with a beautiful mohair. Using size 7 needles to make a dense fabric, I cast on 60 stitches and knitted in the round until all the yarn was done. It came to about 5" long. The width was about 7". I sewed the bottom and attached some really pretty braid for a strap and some of the braid was used to loop over a gold button. I lined it with a nice silk shantung. For $4.69 in supplies (braid, button, silk) and scraps of left over yarn, I created a beautiful evening bag. You could put fringe on the bottom or trim around the top. Depending on the type of yarn, you could make it casual or dressy.