This started as a baby blanket but finished as a tote!  I used 44 squares in all which includes the gusset.  Each square is 4" made of scraps of dk weight yarn.  The finished bag is approximately 16"x16" but seems roomier because of the gusset.
The inside has two pockets and is lined with some upholstery sample scraps.  The handles are vinyl.  I interfaced the gusset with pieces of vinyl to make it less floppy and more boxy.
This will be gifted and I will miss it!