First I cut away some of the length. See where this is heading?
From this point on, I pretty much followed the Simple Tote construction, sewing up the sides, boxing the corners, sandwiching the handles between a lining (made from stash fabric) and the outside, etc. The handles are just strips cut from the bottom of the skirt.
Et voila! My new bag! So, not quite a silk purse out of a sow's ear, but close!