Abstract: A yarn holding device is provided for holding and carrying a spool or skein of yarn by a person while knitting and/or crocheting. The device can hang downwardly from the arm or hand of the person while providing a supply of yarn to the person while knitting. The device has a handle in the form of a ring that can hang from the arm of the person. A shaft extends from the ring with a length to carry the skein of yarn. A sleeve in mounted on the shaft and carries the yarn during use. The sleeve is rotatable on the shaft to feed the yarn. A removable base is coupled to the bottom end of the shaft for removing the sleeve from the shaft and for positioning the sleeve with the yarn of the shaft. An eyelet is provided on the ring to feed the yarn from the skein to the person during use.