Here's the finished product. It can hold either a 75ml or 1.5L bottle.
Cut a 16" x 18" piece of fabric and iron 1/2" and another 2 1/2" fold at the long end.
Machine stitch the folded edge.
Fold the fabric in half, right sides together, and sew a 5/8" seam down the open side.
Keep your iron close by and hot. Fold and press each end into the middle, not quite meeting.
Double stitch the end closed incorporating the folded sides.
Turn inside out and press into shape.
Hand sew a button and a ribbon of your choice and VOILA!
This project was extremely easy and fun. I wish I had found it before the holidays, but the handmade gift bag for wine or whatever, is an easy way to reuse left over fabric and add a personal touch to the gift. It would be easy to adapt to a different sized gift as well.