Well, I did it. The first thing I stitched solely with my new sewing machine was a shop-class stereotype.
I made a pocket knife holster.
I also didn't fully plan it out ahead of time (shame on me) so I'll have to add the belt loop (currently in progress) by hand.
Still, between being the first work I've done with the machine (Singer 4452) and done entirely out of hat scraps, it turned out rather well. Go me!
There are two extra "pockets," one on either side of the knife-pocket (a side-effect of using double-folded cloth) that are exactly the right size for a little bit of emergency cash (if you fold it into sixths). The one-dollar bill demonstrates this.
It's certainly not the prettiest thing I've ever made, but it's functional. The majority of the stitching is visible on the outside, but that doesn't matter to me. If I had a need (or a commission) to make another, there's plenty I'd do differently.