does anyone know about this stuff that came out not to long ago you iron it on material and it gives the material a scrunch y /wrinkle looking effect? i saw it at a quilt shop and now i cant remember the name of it

Yes, it is "Texture Magic". Great stuff.

I have seen some really neat purse patterns using Texture Magic.

I saw some the last time I was at my LQS, it was $12, and the piece wasnt very big either!

There is a tut online somewhere. It warns you that if you're going to cut a piece out - to applique or whatever, to stitch around the edge of the shape you're going to cut out before you do cut it, or you'll loose the "texture" around the edge.