I think this is going to be a favorite. I know you can't see the image of the bag very well but it's the best I could do. You can't get the image from the Mission Falls website because they are pdf files. It's from the 'Harvest 2001' book. I think you can get a good idea from this pic though. It's knit in a flat rectangle then side seams sewn and the bottom is crocheted together. it has a drawstring closure. The rib shown here is the top. It's not what I would define as a 'satchel' but Elke Satchel is its given name.
I'm in the 'finish it now' mindset so I'm knitting like a fiend! I'm not forgetting my other projects on needles. They are all getting their allotted time in.