I can't pick just one, I have many great ones!
IMO LV bags (and most other designer bags) are not only ugly, but ridiculously expensive considering the number of knockoffs and what good leather costs. I can fly to Italy and have someone make me a bag for those prices. I'll get a vacation, my bag will be prettier, and it will be unique.
I prefer leather, it needs at least one zippered pocket, it needs to be big enough for all your stuff without looking like you are carrying a diaper bag, and the most I have EVER spent is $120 - for a leather backpack that I have beaten the hell out of, taken everywhere, and love.
I actually like the darker lining because it hides dirt and makeup/ink stains. Instead of plastic bags I have a small cloth bag for makeup and I just dump everything from one bag to another when I switch purses.
I like leather because it can take a beating and is cleanable. Cloth, beads, and feathers I worry about ruining.
One of my favorite dress purses is actually a metallic gold cloth clutch Kit found for me at the PC Goodwill - lots of great pockets and compartments!