I have done some un-knitting, or "frogging". I picked up a jumper from the op-shop the other day, and the Obama inauguration was the perfect time to dismantle it. By the end of 4 hours of presidential fanfare I had 530 grams of yarn. It's 50/50 cotton/ramie, perfect for dishcloths and string bags! I decided that it was too splitty to knit as it was, so I got busy with the spinning wheel and plied two strands together. It's probably about an 8-10 ply (DK-worsted), I haven't worked out the wraps per inch yet, and 150 metres per 100 grams. There's nearly 800 metres of yarn, that's a lot of dishcloths! I used some fabric dye to brighten up 200 grams of it, but I'll leave the rest white for now.
Considering cotton yarn costs at least $5 per 100grams, I have about $40 worth for $2 and an evenings work. Not bad!