wow, good score!! i used to be a voracious thrift shopper and built up quite a good yarn stash- i used to crochet and felt a lot, and just now started knitting. i'm loving it!
anyway. if it's the really really thick type, i have one skein from that company that's really thick single ply, i crocheted a cool thick beanie cap that was oh so warm. it'd felt great- all the lamb's pride yarns felt great!! a wee felted bag would be cute. i used to be able to make up my own crocheted felted patterns... but now that i've started knitting.... i think i need to buy some patterns!
IF it is the really really thick type, you'd be able to pull the wool apart? you can use the left overs for needle felting or hand felting... the left over yarn wouldn't fit any other projects!
good luck & enjoy the yarn!