Bucket Bag by Marta McCall.
Who doesn't need a bucket to tote life's absolute essentials? Make your own and send it through two trips in the wash, and you'll get an extra sturdy, durable felted bag. But be warned, your friends will be begging you to knit one for them too! Finished size is 12" tall x 9" wide at the base x 22" wide at the top.