Um. I love this. Can I tell you the ways? It's easy. It's a great DIY gift idea. It's customizable. Oh, and did I mention easy?? Yeah, that's the big one.
All you need are some basic sewing skills and some heavy-weight canvas and you're good to go. You could even go crazy and try a bit of fabric printing (with toilet paper rolls, perhaps?). However you decide to customize this easy DIY wallet, check out the instructions for cutting and piecing it together over on The Purl Bee.