Materials Required:
Machine: Brother 390 in 4.5mm modes using Brother 400 carriage for plating. Mast T: Center Carriage T: 6
Yarns in two colors (try one just a shade different than MC) for plating
Yarn Needle (double eyed bodkin is best)
Closure of choice; velcro, hook & eye, button, etc.

[1] Latch on 30 st, K 2 rows, begin weaving pattern of choice (or plating) -- you need a fairly firm fabric.
[2] Knit 50 rows in pattern, place marker ravel on next row, discontinue knitweave at this point.

[ Please note that this length of 50 rows will give you a finished 'neck purse' about the size of a credit card. Adjust your desired length at this point. 60 rows makes a nice one and 70 rows makes one approximately the size of a playing card. ]

[3] Knit 6 rows plain stockinette, hang casing/hem from ravel row (Insert a string or yarn as you hang the hem so you can easily pull the I-Cord through when done - see our How To on Easy Casing.)

[4] Begin weaving pattern again, knit 2 rows
[5] Do 2 st decrease (full fashioned) on each side EO Row until you have 4 stitches remaining on machine. Latch off.
Putting It All Together:

Make 3-stitch I-Cord to go around neck and to hang at preferred length. I generally make anywhere from 24" to 28" cords. Thread the cord through the casing/hem, pull on cord until the ends are inside the casing/hem part.

Fold up your 30-stitch end of the work until it is approx 5 rows under the casing/hem line. Begin with double or triple strand of yarn and starting at lower right corner, do a turkey stitch around the edge, making sure you securely catch the I-Cord coming out of the casing so it won't pull out and continue around the holder.
Fold the flap over and use a velcro dot, or a button & loop or any other preferred closure.