I call it the "Dear Knits" Needle Envelope. Its a prototype and I think I'll make a more quality version this weekend, but I am very happy with the design. For this one I played around with different seam allowances and styles, a little bit of decorative stitching and some different quilting ideas.
The "envelope" will close securely with velcro in the finished version. The button is pureley decorative, sewn on with some fancy silver thread.
Here is the envelope unfolded. There are 8 pockets for DPNs, and 4 pockets for circular needles. Some changes I will be making include the height of the pockets. They should be deep enough so that you cannot see the average DPN sticking over the top. The back circular needle pockets are shorter than the front ones so that you can easily store and find smaller lengths (8-16 inch).
The whole envelope is padded with extra stiff batting and all the seams (with the exception of the decorative edging) are double stitched for durability. This design seems to be really sturdy. The way I have been carrying it around is to close it up and fold it in half. I think I may put snaps on the back to accommodate that. The finished product will also have the Knit Spiffy logo on the little ribbon tag at the top. They should be up on etsy some time next week.