Can I make a purse out of this?

Here's a sweater I knit that I haven't worn in about 5 years.  The yarn is a cotton base.  Lots of colors in it.  The design is, you guessed it, taken from my book of patchwork patterns.

But, I don't wear it and have no intention of pulling it out and starting over.

So...can I make a purse out of it? 

Check back to see...


Aren't you curious?