While some of these divine British handbags in calf, satin, or velvet are ready for a very proper occasion, others cut loose with funny silk-screened photos or sequinned designs of candy or painkillers. Subway: N, R, W to 5th Ave./59th St. Other location: 115 Greene St., between Prince and Spring Sts., SoHo, PHONE: 212/343-8147; Subway: R, W to Prince St.