I have been looking on pinterest a lot recently, and found so many great sewing/DIY projects. I was so inspired that I went out to Goldhawk Road and bought lots of awesome fabric (Cotton, stretch jersey and muslin).
This morning, I went to this page that I had bookmarked earlier. The instructions are so great, and the bag was made in under 3 hours (which I find to be quick, bearing in mind how I had not used the sewing machine in years). The bag is a bit on the small side, but you can easily make it bigger (mine ended up being about 32x31cm (not including the straps))
Cotton was average £4/m (for a 115cm wide piece) (All units are in cm)
After some calculations on excel, it comes out at £2.08 for the bag.
Some pictures of the finished product
1) The outside
2) The inside (I wanted the contrast)
3) What it looks like from above. Can see a few loose threads, but meh.
I think I will be making some of these to hand out at the baby shower :) Or possibly for Christmas presents instead of wrapping paper :)