Gift bags with removable, configurable and wearable parts and components have multiple interconnected panels which include a bottom panel and multiple interconnected generally vertically oriented side panels which together form a bag or container with an interior volume which is accessible through an opening. Incorporated into or attached to one or more of the side panels or bottom panel are articles or components, structures or objects which fit with one or more of the side panels. The articles, components, structures or objects are detachable from the one or more side panels. The removable components are preferably secured to or made integral with any of the side panels by structures, devices or materials by which the components are both structural; aesthetic, decorative or ornamental, yet also relatively easily detachable.