I'm loving the envelope-clutches with a bright stripe of neon paint down the middle lately. It seems like they are everywhere! This is the hot streak clutch from anthropologie. It's quite small, actually, only 6.75" high and 9" wide - but $148. Ouch! Definitely one to DIY.
From the reviews I learned it's rather squishy-soft, so it doesn't need very stiff leather to make it - which means I may be able to do it on my machine and not have to buy a sewing awl. And it looks to me like it's lined in very lightweight suede. Okay.
I'm starting my first test run now; pics soon if it works out. It'll be about the same size, but lined in a heavier weight leather (I'm using up what I've got on hand); it's a good test for my sewing machine to see if it can handle the bulk, with a leather needle and heavy-duty thread. The little button/knob closures - whatever you call them - cost about $2.50 at Tandy Leather, and my mother in law was telling me over Thanksgiving that she actually has a bunch of deerskin hides that she once purchased and is never going to use (how PERFECT, no?) so if the test-run works, I'm definitely going to make a big pretty one, maybe even make some for gifts!