Is this a backpack or drawstring bag? Or both?

• 300 denier polyester, 210 denier polyester
• Drawstring top closure
• Interior hanging pocket with hook and loop closure for easy access to valuable
• Spacer mesh comfort straps with built-in grab handle and reflective trim
• Lightly padded back for structure and comfort
• Front slip pocket for easy decoration
• Reflective webbing tab on slip pocket and side mesh beverage pocket
• Dimensions: 20"h x 15"w x 5"d; Approx. 1,500 cubic inches