I've been trying to figure out how to do this for a while and I finally got it! It took a few hours and some hard thinking, but I have used this purse a lot already and it is pretty sturdy!
First I cut off the bottoms of the 2 records that make the outside of the purse. I put the oven on Broil and then put the record on a cookie sheet. As soon as the record flattened a tiny bit in the oven and was obviously softer, I took scissors and cut across the record until it got hard again. I repeated this until the record was cut straight across. Then for the bottom of the purse, I cut across the record so that the label still shows, also so that it was at the widest point of the record. Do not try cutting or sawing the record without the oven, they break. I figured this out the hard way. :)