I usually like to make something for presents and this is what I made for my Dad's birthday.
It's a simple pouch, two pieces of fabric sewn together, turned out, folded in half and the sides sewn up. It's kept closed via the tab, which, although it has a button on top, fastened by a press-stud.
As this was made for my Dad I used these, more masculine, fabrics, but this could be made in any fabric you like. If you used a finer fabric, such as silk, I'd add some batting between the two pieces of fabric to add a bit of body. The text is the definition of handkerchief printed onto fabric.