My Mom sent me this pattern and several of my Dad's old ties. This pattern is the Tie Pocket Pouch from Indygo Junction. If you don't have any ties to use, included are pattern and instructions to make one from fabric.
This is a really quick project. The instructions include illustrations and are easy to follow. That is for the existing tie version, I haven't tried the fabric version, yet.
I was thinking that the pouch would be able to hold a cell phone but the only really usable pockets are the two little pockets in the front. The bigger of the two is just the right size to hold business cards.