I also made a slightly different "basket". A while ago I stumbled across these amazingly fun looking Loot Pails. I used two layers of cream colored felt for the sides and added a splash of blue to the bottom. I had leftover strapping from the toddler belts I make, so the handle was quite easy. This one cost even less then the knit basket, and went together in less than an hour.
I think I'm pretty happy with them both, now we just have to fill them with something other than Easter eggs borrowed from Grandma.