This spring I've made two of these Absolute Bags. One for me and one for my sister. I kept the orange one, but the circle bag was sent to Cheryl for her birthday this month.
The Absolute Bag is a fantastic pattern created by Marilyn Ulrich, owner of QuiltWorks. Marilyn has made over 20 of these and they are always fun and fast to create. You can of course personalize it with fabric however you like. There is one pocket on the inside, but you could easily add others. I have been using mine for all my knitting and quilting group get-togethers. It's a big bag and so easily holds bulky items.
It's even designed to be worn as a backpack, though I haven't tried that. If you are interested in the pattern, give QuiltWorks a call and see if they can set you up with the pattern and the Soft and Stable which is used instead of batting. That's what makes the bag stand up so nicely!