Seriously speaking, is this bag ugly and just too plain?

I think you should keep it! It will go with everything and you can use it year round (that white after labor day rule is sooooo ancient history)! Buy scarves and key rings in many different colors and change them daily to match your outfit! It will add the extra "oomph" that you seem to want (like tie a holiday patchwork neckerchief in a bow and bam! it's like you have a holiday patchwork bag, etc).
I'm a poor college student myself, so I only have money for a new designer bag once in a blue moon. I use the same bag everyday so it needs to go with everything I wear. Those are just my tips. :smile: I'll definitely be following those when I get my white soho leather small flap soon! :supacool: