Abstract: A dress accessory item such as a belt, waistband, strap or sash convertible into a handbag or purse. The belt-like dress accessory item includes first and second courses of decorative fastener devices, each originating from a common point on the periphery of the accssory item and affixed to and extending in opposite directions around the peripheral edge portion thereof. The first course of fastener devices being cooperable with the second course of fastener devices for joining the peripheral edge portion of the accessory item together upon itself commencing initially at the common point and successively thereafter along the length of the fastener courses to form a handbag or purse. The courses of fastener devices may be mating halves of a zipper, mating lines of male and female snap fastener components, and mating hook strip and eye strip portions of a Velcro connector.