I get the Lion Brand Yarn newsletter http://cache.lionbrand.com/content-newsletterArchive.html
and they have a neat article about tiny purses. I made one for my mp3 player which I never seem to use. But when I had to go pick up some pizza, the pants I was wearing did not have any pockets. So I stuck the money in the mp3 player purse, put it around my neck and it worked. I just made mine from the self striping sock yarn (Berocco? Bernat? I think Bernat) , just made a small pouch, made an ending round with a double crochet, chain stitch pattern so I could thread yarn thru it and it was done.