After being beaten to the dollarwallet idea, i searched around for something most everyone has to use for a wallet. What i came up with was wrapped around my fedora on my head the whole time!
a BANDANNA!

This takes about a half hour to an hour to make, depending on how fast you sew with a machine.
It requires some general sewing knowledge.

Step 1: Ma-freakin' Teerials!

1x Bandanna!
-Tiny bit of duct tape (i used gorilla tape)
-scissors
-Sewing Machine
-Pins

Step 2: Cut 1

one normal sized bandanna is enough to make two or even three wallets, depending on how well you use the cloth at hand.

So start by cutting the bandanna down its center, like in the picture.

Step 3: Cut 2

Now take your dollar and measure about a centimeter longer on each size. Then take that piece and fold it in three. crease it real good.

Step 4: Stiffening!

So here's where the creasing and tape comes in.
unfold one flap of your wallet, and tape the inside. Two to three strips of tape should do.
Don't put it too close to the end or it won't hem up right.

Re fold the wallet.

Step 5: Cut 3 and Sewing! (optional Pocket Time!)

Cut another strip for the pocket, This is optional.

hem up and pin the edges into a nice clean hem. If you want a pocket, roll the ends of it into the side hems of the wallet, pin them and continue.

Sew the ends and the bottom of the wallet, i used a nice zigzag stitch on my machine.

You now have a nifty bandanna wallet!