Good job. I've seen some magnet sheaths before. Don't recall one quite like that though. A tip - an easy way to make the holes instead of puncturing is use a drill with a small drill bit. I use a drill press so the holes are at the right angle, but you can use a hand drill too. When I was in school, I used a hatchet as a hammer and used nails to pre-punch the holes before sewing. I used the pliers to hold the nail while hammering, and to help pull the needle through.