A reversible handbag capable of taking a variety of different shapes and configurations having a front side, a back side, and a bottom side, two side seams formed by joining the boundaries of the front side with the boundaries of the back side. The bottoms of the front side and back side are joined to the outer perimeter of the bottom side leaving an open periphery at the top of the handbag. The side seams each have an aperture located near their top edges and the front back sides each have two columns of two or more apertures. The open periphery can be folded inward or outward to create several different configurations of the handbag and the apertures on the side seams and front and back sides are capable of receiving clasps or other fasteners from straps in order to provide handles, carrying straps, and the like for the various configurations.