Styled by Bounty  handbag.  It can be for a child or adult.  It was mine from the late 60's to early 70's.
 
Label states  cotton and genuine split leather made by  Bounty
Measures:  without handle
across the top 5.5 inches and 8.5 inches in length.
 snap closure fully functional.  
 Exc shape   see all photos. 
 I think in the handle the cotton is just finished that way so the ends show off of the material. BC it is not ripped or anything.