No gauge is given in this pattern but 20sts per 4 inches works with the needle size stated in the pattern.

The piece of knitting should be approximately 26” long before sewing into the bag shape.

A note on the original yarn: According to Wikipedia and other web research, “Celanese” is “cellulose acetate or acetate rayon”, so Celanese crepe twist would be a rayon-like yarn of a crepe construction.