Option, Options and More Options!

I meant to behave,

there were just too many other options.  

~ Darynda Jones

Yay!  I finished weaving my band, pulled it off the backstrap loom and lined it with a silk remnant from the wedding dress:  

Now I want to turn it into a small bag - the question is, how?  

I could fold it in thirds - with the top layer serving as the flap - stitching up the back and middle layer to form the body of the purse - add a row of decorative beads and leave the long fringe there...  Obviously I would also add a strap.  

I could do all of the above, but shorten the fringe somewhat...

Or I could cut off all of the fringe.

I don't have to fold it in thirds - I could fold it like this: 

I'd probably cut off the fringe, so that it doesn't obscure the design..  

Or some other combination - and the beads are optional too.  

What do you think?  How should I assemble this purse?