Thanks for your help guys. Melikemochi- you're exactly right, there is still one little thread on there, but there are three other ones that are just sticking out.
And I can use one of my other bags, but I just love this one so much!!!
THREE other ones?!?! I would definitely bring it back then and request an exchange. I've had mine awhile so its understandable one thread will come loose and stick out but if its a 3 week old bag and three threads are sticking out... theres something wrong.