It was easy and fun, and in the second 2 pictures the bag is comfortably holding 2 skeins of Caron Simply Soft.
Pattern found here.
I used the first pattern, made in Caron Simply Soft on knitpicks options size 7 circulars (although the beginning was knit on size 6 DPNs because I have no 7's). In making more bags I will alter the stitches so the pattern is k5p2 instead of k5p1 because the ribbing really doesn't show, and that's rather annoying. I also knit the drawstrings in i-cord because I didn't want to just braid or twist yarn. Plus, i-cord is stretchy and durable :)