I saw an interchangeable purse posted today, and wanted to show one that I have made. It is the Grace Smart Handbag. The removable covers are very quick and easy to make, and one can be made from a fat quarter, or you can embellished them anyway you want. Here is one with a cover from Laurel Burch fabric, and an embroidered cover. I got the pattern from here
http://www.thesmarthandbag.com/