This design appears in the 2006 book, 100 Purses to Knit and Crochet by Jean Leinhauser and Rita Weiss, p. 102. Above is the sketch and below is what the finished crocheted piece looks like before lining, seaming, and adding velvet and the handles. The finished purse is pictured with my other published designs in the right-hand column of this blog (scroll down).
The yarn is Lion Brand's Microspun, appropriately named 'Buttercup'! The non-buttercup rows, which are plain half-double crochet, are where the black velvet ribbon will be placed after the whole piece is folded in half and seamed up the sides.
In white or cream, buttercups become stephanotis and orange blossoms, in periwinkle blue they become forget-me-nots, in lavender they become lilacs (which I really miss since leaving Wisconsin), and in hot pink or ruby red they become four-o'clocks and geraniums. Linen yarn space-dyed in mauves might become hydrangea (which I also miss).