My cat once slipped his head through a handle of a paper bag like that while sleeping on it. Then he jumped off the couch and absolute chaos ensued. He drag the bag behind him and it inflated like a parachute and making a lot of noise which totally freaked him out.
He eventually managed to rip off the handle (glad it was a paper bag) while dragging it under some furniture, but he was quite traumatized after that. Didn't come out of his favorite hiding spot for half a day.