No, rather than being an executioner's gym bag, it's the work of Israeli-based artist Yael Mer. The drawstring "Head Hand Bag" is made of felt, moulded in such a way as to appear to be containing a decapitated head. Rather than being filled with bloody brains, it's got room for all your belongings, while offering a scare for those passing by.
Sadly, you wont be able to buy the bag down your local JD Sports, with it instead being part of a series of works by the artist. If you'd like to see it up close and personal, it's currently being exhibited as part of the New York MoMA's Design and Violence show, the curators of which ask: "What’s the point of going through all the trouble of seducing and decapitating your oppressor if you’re just going to conceal your victory in a Coach weekender?" [Lost at E Minor, Design and Violence]