Bloomingdales just sent me something very similar in the mail as a promo. Opens the same way and you use the pouch part as the bag's base. I didn't know what to do with it, so I use it for groceries.I love these folding tote bags from Big Bag Theory and keep one inside my Speedy and my Neverfull. They fold up small like a wallet, so it doesn't take up too much space!
http://www.bigbagtheory.com
bigbagtheory.com/products/blooming