Decorative Woolen Bobble
Puzzle 4 of Time Savers Pack
Question is: Decorative Woolen Bobble
and the answer is: POMPOM
Word Meaning:
POMPOM — A ball made of pieces of soft fabric, tinsel, plastic, or paper streamers, tied together in the middle and left loose at the ends, used as decoration or as a showy prop for cheerleading.
Definitions from Wiktionary.