Here is a link to a store that sells Burly (from Brown Sheep): http://www.kyarns.com/brown-sheep-bu...ulky-wool.html
according to them it is a Super Bulky Weight Yarn.
Since you have professed to being a loose knitter you might want to go down a needle size or two to get a tighter fabric.
It is a nice purse and pattern, to bad they don't give you a gauge to go by. I guess they figure since it is a rather simple pattern and a rectangle folded in half people will simply adjust it to fit their needs. Good Luck.