Found this bag at Sportsgirl, an Australian clothes and accessories shop. It's called a Candy Chain Bag and I love it because it can worn in two different ways.
It can be worn as a shoulder bag.
And it can also be worn as a sling bag.
The bag is versatile--can be used from semi-formal to casual events; and has a lot of room inside for a wallet, point and shoot camera, mobile phone and some toiletries.
This is definitely my favorite bag at the moment.