Here is a charming hand crochet thread needlework handled bag, or purse, from the vintage years of 1920 - 1940.  A thread ball for crocheting, knitting, or even darning could slipped inside the bag.  On either side of the bag you'll see a small opening. 

It is through this opening the end of thread was placed through.  Placing the handle of bag over the wrist, the thread pushed through the opening, was easy to grasp for a needlework project.  This clever little bag is in a lavender thread.  Ribbon decorates the handle.  The thread hole,on either side of the bag, is small so would be for a fine thread. 

Size of the bag is 6" long, from the top of handle to the bottom.  Width is 4" diameter. Condition:  It appears the bag has never been used.  Ribbon though is frayed.