This is the i-Handbag and as we have already said, you know what it is for the iPhone and yet this has been designed by Korean designer, Jin-Woog Koo from the Nothing Design Group. Clearly, this is a design aimed at the female user of iPhone; it seems to be all right for any model too! It also comes with a range of accessories too that make it easier to enjoy the iPhone without having to remove from the i-Handbag, which is a bonus.
There are no details on how much this is likely to cost or if it will actually become available either, yet!
Source [Design Boom]