Great idea! Here are a few bag ideas if you want to do something other than quilting:
Humbug Bags:
http://needlewings.blogspot.com/2008/07/its-in-bag.html
Origami bags:
http://mylittlemochi.typepad.com/my_...i_pocket_.html
Shopping bags:
http://www.craftster.org/forum/index.php?topic=177482.0
Best wishes to you and your growing family!