Critiquable artisan crafts deviations are rare, so I had to stop by and offer my thoughts on this one.
First of all - I love the idea. It's got a fantastic expression and the fly button on the tongue fastener is wonderfully original and cute. I also like that the tongue is flowered - is the lining the same material? because that would be gorgeous if it was.
Second, your technique looks great - very neatly put together and your hand stitching, where you put the eyes on, is much neater than mine - I only noticed because I was looking.

Now, crit. First, it looks to me as though the strap for this purse is all felt - do correct me if it's not, but I think it needs an insert in a stronger material or it's really not going to last.
That brings me to what is really just a personal opinion, I would have used a different fabric for the main body; probably bright olive green canvas, partly because it's harder wearing and I'm hard on my bags, and partly because this shade of acid green is making my eyes water.