New knitter, yarn on sale so I bought, now what?

[GardenStream]

I went to my local fabric surplus store and they had $1 bags of yarn ::

So, I got 2 bags each with 4 things (I don't even know the right word) of yarn. First bag is 4 things of Louisa Harding yarn. 70% angora 25% wool 5% nylon
25g each, so a total of 100g. The label says 4sts=1" and US7 on it. I don't know what that means either. So, what can I make with this?

Bag 2 had two different yarns in it. All are Nashua Handknits and are 100% wool. I have two things of blue and two of brown/orange. Each thing is 50g, so I have 100g of each color. The label on these say it's a US8-9 and has a picture of yarn with a 4 in it. What can I make with this?

I think this stuff is good yarn, so should I just hang on to it until my skills are good enough to really use it?

[flapjack]

I'd start with the second bag. It's all worsted weight, so look and find a pattern that you love then go and make it Remember, the biggest investment in knitting is your time, so the yarn is always going to be a bargain compared to that.

ETA: yes. It's good stuff. You got a bargain.

[Rhiannon Feimorgan]

Good score!

[NullSet]

That's a GREAT deal!

[Think of Winter]

100g of yarn is a typical skein of worsted weight. You could look for patterns that require only that much. There are books (One Skein Wonders comes to mind) or you could check ravelry.

You could make some shorties for summer for your little guy with the wool, or if the colors coordinate, you could make longies. Or you could try some toys, since they use really small amounts. Mittens for your boys? The angora might make a nice headband, fingerless gloves...gee, I don't know.