Abstract: A multi-purpose yarn feeding device for knitting machines is described which includes a number of co-axially arranged rotary members which correspond to the number of yarns fed to the respective feeding station, each rotary member being provided with a frictionally yarn engaging circumferential periphery. Adjustably positionable eyelet guides are arranged to guide the incoming yarns towards and guide the outgoing yarns from the circumferential peripheries of the associated rotary members to result in yarn portions being in contact with preselected arcuate lengths of the circumferential periphery to thereby impart selected tractions to the yarns. A spring member having a fixed end and a hook for engaging a yarn portion is movable generally in the plane of an associated rotary member for selectively pulling away the yarn portion from the associated circumferential periphery of the rotary member.