Felted Ruffle Drawstring Bag

I needed a little bag for Molly to put some bits in for our flight next week. I got the idea for this for some gaming dice bags on Ravelry, but none seemed quite right so I kind of made this one up. I got a bit bored by the end so decided to do a little ruffle at the top.

Its hand-felted, and I probably could have felted it more, but it was beginning to look too small so I stopped. I am still not convinced its big enough, but its pretty darn cute non-the-less. Its made with Rowan Tapestry yarn which is a wool/soy blend. Lovely colours with nice long stretches. It felts nicely, although the end product is very 'knit-your-own-yoghurt' hippy styleeeee.

Heres how I did it:

1 skein (plus a little bit) of Rowan Tapestry
5.5mm circulars (I used magic loop; use dpns if you prefer)

CO 30st
Garter stitch back and forth for 40 rows (20 ridges).
Place marker, then pick up stitches on the other 3 sides of your rectangle as follows: 20 stitches on first edge, 30 stitches on cast-on edge and 20 stitches on last edge. 100 stitches
Join in round and knit in round (stst) until bag measures approx 15cm.
For ruffle:
Starting at marker, [Inc 1 (knit in front and back loop), K1] for one round. (150st)
Knit one round
[Inc 1, K2] for one round (200st).
Knit 3 rounds.
Cast Off.

Drawstring:
2st i-cord as long as you like.

Sew in ends. Felt.
When dry, cut small holes in lower edge of ruffle to carry drawstring.