The Sewing Dork from Confessions of a Sewing Dork and Redemption has a tutorial showing how to extend the life of a pair of outgrown toddler pants. By cutting off the bottoms and adding a contrast cuff, the too-short pants have become a new pair of capris. Go to the tutorial.
Have you read?
Easy Cosmetics Bag Sewing Pattern

The bag is simple, uses very little fabric (about 2/3rds of a fat quarter), has no fussy inside pockets (although you can add your own if you like), and takes me well less than 30 minutes to print the pattern, cut out and sew. But quick and simple doesn’t mean it’s not awesome!
It’s the sort of bag that is versatile enough to be used for lots of applications, not just cosmetics and toiletries. Keep all your pens and pencils in order, use it for a small first aid kit for the car, keep it in your desk at work for a few headache pills and other personal supplies.
Make some for yourself, for gifts or to sell.
