This is the thing that I want to make for MEEEEEEEEE. It's called Inga's Haekelbeutel. Fab, isn't it?
It is 16 squares put together is a unique way to make this awesome bag. This link has the square pattern as well, but really you could use any fairly solid square that you liked, as long as it was basically the same size.
I have many balls of scrap yarn, calling out to be made into the awesomeness that is this bag. In fact, I think it is going onto my list of project gift projects for my book club for NEXT year. (This year's gifts are already started. Yeah, I'm THAT kind of girl. At least some of the time I'm that kind of girl. We can hope.)
Of course, if someone wanted to make me one, well, let's just say I'd be happy with that!