I make clutch purses from placemats. I am very careful to select placemats that will work in quality, texture and design. I find interesting small objects, buttons and ornaments to use for the clasp which is held in place by black elastic. The sides are closed by using glue applied by glue gun. I keep my costs well under $10 by purchasing my materials on sale when possible. I also use double sided placemats as throw pillows, opening a seam just enough to slip in the stuffing. I either sew or glue depending on fabric.
I have many other uses for placemats and old ties.....