I have got around to buying some recycled sari silk though. I got it from Angel Yarns and was initially surprised that it had so much black in it. However, I really like the way it has knitted up even though it has been tough on the fingers!
The pattern I am using is Unbiased from Knitty. I was going to give the bag as a present but I'm now thinking I may keep it myself - I'll wait and see what the finished bag looks like!