These are the basic instructions for a Circle Purse™ or a Circle Basket™. To create the one shown, I used a Grand Nestability 7" Scalloped Circle from Spellbinders, but you can also use a circle cutter to cut a circle, or draw around a plate, or saucer then cut with scissors. The technique is the same. The rectangle at the center of the circle becomes the bottom of the basket. The size for this can be adjusted depending on whether you are making a basket or a purse. The rectangle for the basket shown was 2" x 3".
Watch a "how to" video taped by Fiskars TV, here: https://www.youtube.com/watch?v=ygoN1hGBcfk&list=PL1DA56DF6EF5A6684. Enjoy!