Travel wallet - wouldn't it be fun to make into a needlework etui - the pockets could be wool felt with a little hand embroidery - Mary Corbett's Lavender Honey & Other Little Things comes to mind..... hmmmm..... Stitching Group??
FYI: The company, Taggies, has a patent on anything with two or more looped ribbons. Because of this, we can make these for ourselves or for gifts, but we are not allowed to sell them. If you try selling them on Etsy, you will be discovered and they will remove your listings and you will be bummed out. I know this from experience :)