We just made the coolest red purse cake. It is a vanilla cake covered in fondant, then sprayed with red luster dust (the spray from my Halloween Nightmare...).
It's hard to see the detail in these non-professional photos but there is stitching around the edges of the flap, and vertical quilting on the front. The leather (copper fondant) accents also have stitching around the edges and along the sides of the handle.
We made a matching copper tag that will hang from the side of the bag (tomorrow when it has dried) and say Happy Birthday.
All it needs now is a $100 bill hanging out the side.