"You caught a bag of Rupees! You don't know who dropped it, so it's OK to keep it. Open it with "A" to find out how much is inside!"
— in-game description

Bag of Rupees is an item Link can catch while Fishing in The Legend of Zelda: Twilight Princess. It is possible that Bags of Rupees are simply lost wallets.

It is a bag of Rupees that someone apparently lost. Unlike other flotsam Link can snag with his fishing rod, a Bag of Rupees is actually considered a lucky catch, as they contain valuable Rupees. It is apparently easier to snag a Bag of Rupees with the Fishing Rod if there is no bait (Worms or Bee Larva) attached to Link's lure.

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