I found a really cool placemat on super duper clearance at Walmart that was from their holiday collection (it was July at the time I bought it) and there was only one of them. I figured, for $2 I could try to make a placemat clutch and if I failed, no big deal.
Even though I made this clutch a while back, I still haven't had an opportunity to use it. For one, I have a huge purse that I don't carry a lot of stuff it (but, purely for the fact that it has the potential to carry a lot of stuff in it) and it's navy. And I'm usually wearing more black than navy and I can't do mismatchy navy and black, my OCD side would be going bonkers the entire day. So, its sat in my closet until the day I think I might be able to use it. But, it's still really cute and easy to make.
All you need is:
-matching or coordinating thread
-button or other embellishment (and some sort of closure if you don't want to make just an envelope clutch)
Just fold the placemat to where you think you want the front part to come down to and sew up the two sides. You can add a button, leave it bare, or add a magnetic or velcro closure.