This is a great way for your students to share information about themselves! It won't take up too much class time to share and it won't take too much teacher time to prepare! Just print it out - 2 options available color or black/white - cut in half, write the date that he/she will share the bag with the class and staple it to a small paper bag. Parents will be happy that the students do not have to do anything too extensive for this project. And students will be happy to share something about themselves in a fun, creative way.
I've always received great feedback from parents and students when I have done this in my classroom. Enjoy!