This is their "Beggar Wallet."
Weirdly, it looks a lot like a normal coffee cup.
Crate And Barrel calls it a "quirky" design.
Company description for the wallet:
Inspired by the iconic blue and white coffee cup often seen in the hands of New York City panhandlers, this quirky wallet begs to be seen. Soft faux leather fits snugly in your back pocket or handbag. Won't spill any of its valuable contents, thanks to a nifty zip top.