Abstract: A method for manufacturing a fancy textured yarn provided with slubs. In this manufacturing method, at least one thermoplastic multifilament yarn A is supplied to a twisting zone of a false twisting apparatus provided with a heater disposed at an upstream position to a false twisting element and at least one thermoplastic multifilament yarn B is supplied to the above-mentioned twisting zone so as to combine with the yarn A by way of a yarn guide which is reciprocally displaced along the yarn passage of the yarn A. The combined yarn is heat-set by the heater and then untwisted after passing through the false twisting element. Thereafter the untwisted yarn provided with numerous stable slubs composed of the yarn B, formed by wrapping the yarn B about the yarn A, is taken up to a yarn package. In the above-mentioned processing, the displacing speed of the yarn guide toward the false twisting element is controlled in a range between less than one time and at least 0.5 times the running speed of the yarn A.