Purses made out of telephone plastic coils or telephone cord became popular in the 1940's. During the war, there were tight rations on fabrics and leather. Plastic started becoming popular and coil bags became a resourceful alternative for the hip fashionable crowd.
Several variations were made from solid colors to two-tone to multi-color. Different shapes were also available.
I've been lucky to come across one, as they are hard to find and rare nowadays. I have also put it for sale in my Etsy shop; The Sparkling Cocktail!
This one is multicolor and includes a coin purse and a mirror. It's in excellent condition! I can't believe I am selling it! You can find the listing here.