According to the above link, fine velvet and fabrics were used to construct the actual pouch of the purse. Now, granted, the above picture is from a London find, but there are many German paintings having the same type of construction. Like in the following:
|Triptych by Hans Memling (c1470) - Framed Purse Detail of kneeling man in center foreground|
At any rate, I think I like how this one looks and if I can figure out how to make it or find someone who already makes them, I'd be rather happy. I've included another picture of the purse itself in use:
|William Browne, 1489 engr. c. 1465, Stamford. Lincolnshire|
I know thus far that for a female prior to the German Renaissance, it was more commonly worn between the undergown and the overgown, so it wouldn't have been readily seen by passerby.