A purse or clutch might not be that complicated at all - you could do a stitch pattern in a rectangular shape and then just seam up the sides. Just a thought.
An envelope clutch purse would be pretty easy. Just straight knitting and then decreasing for a pointy flap, or even just straight knitting and folding the flap over. You could find a pattern on the net somewhere, I'd bet. Try lionbrand's site. Very photogenic yarn, by the way. ;o) samm