The pattern is a little odd; you start with a provisional cast-on, work upwards on circular needles until the top is done, then take out the provisional cast-on, pick up on double-pointed needles, and finish the bottom. If I were to do this again I might rewrite the pattern so you start at the bottom and then continue to work in one direction, since dealing with a provisional cast-on on circular needles is kind of a pain. Nonetheless, I think it worked out nicely. The drawstring is about a foot shorter than it's supposed to be because I ran out of yarn, but it seems like it works well enough.
Project #3 is supposed to be a crocheted bath mat, but I'm not going to learn how to crochet until a week from Thursday, so I guess I will come up with some interim project to keep myself occupied with until then. Fortunately, I have no shortage of yarn (and I got a couple of neat knitting books for HMas, so there's that too).