Katie Holmes and Suri Cruise carry Mommy and me Ferragamo handbags. Tom Cruise carries Suri. Photo: London Entertainment/Splash News

What do you get the toddler who has everything? And we mean, um, everything?

Suri Cruise, who, lest we forget, is three years old, continued to cut her fashionista (baby) teeth by toting a mini version of a metallic Salvatore Ferragamo handbag valued at £540 (around $840), the Daily Mail reports.

Carried by papa Tom Cruise, little Suri flashed the designer bag, which is a downsized version of the Sofia purse mom Katie Holmes was carrying.

And no, the tyke hasn't gotten a huge increase in her allowance. The handbags were Christmas gifts from the Ferragamo fashion house, according to the paper.

How nice. When I was three, I considered myself lucky to carry my boy neighbor's hand-me-down "Fall Guy" lunchbox. Then again, with her penchant for wearing high heels and red lipstick, Suri's no ordinary toddler.

So what's next? Will she soon be hitting the playground in a full-length fur coat? And how soon before she becomes a guest judge on "Project Runway?"

Better yet... how soon before we go to therapy because we're jealous of a toddler's wardrobe?

Suri isn't the only celebrity child to rock designer gear. Check out Madonna's son in Dior shades.