Abstract: A spool adapted for holding and dispensing yarn for crocheting and knitting. The spool is substantially cylindrical, with a gradual slope toward the two ends. The slightly bulging middle portion is circumferentially lined with closely spaced ridges adapted for preventing slippage of the yarn wrapped thereon. Each of the two ends of the spool has four integrally formed peripheral feet which enable the holder to be oriented in a vertically stable position using either end as the base. A support stand is optionally provided which is adapted for holding the spool in a vertical position, has a base which includes four vertical handles establish a perimeter around the four feet disposed at the end of the spool. A fifth, longer vertical handle, centrally disposed on the base, is sized in length to permit single handed carrying of the stand with a plurality of spools placed thereon. The spool is allowed to spin freely on the post of the stand in a stable manner.