Please see following regarding yarn weight/ply. Each wheel is single-ply but this is not cobweb yarn.

From Schoolhouse Press:

“Extraordinary long-fibered fleece unique to Icelandic sheep produce the warmest wool we know of. Work from a single wheel for 1- or 2-ply; or from 2 wheels for 3- or 4-ply. Natural shades. 3 1/2-oz. wheel, 300 yards, single strand: 6 to 7 to 8 sts to 1 inch; 2- ply—3-1/2 to 4 sts to 1 inch.”

Per handout with yarn:

“This untwisted, natural-colored wool from the hardy Icelandic sheep knits up easily directly from the ‘wheel’ into garments of great strength and beauty. Pull the wool gently from the center of the wheel for one-ply, or from the center and the outside together for two-ply.

Use a light hand when pulling the wool from the wheel until the center hole is large enough to permit the wool to flow freely. If the strand should break, simply overlap the ends, moisten your palm, and rub the two strands together for a ‘spit-splice’. This also works for joining a new wheel - and no ends to darn in.

The versatility of this splendid stuff is extraordinary: we have used 1-ply for lace shawls on huge needles at a gauge of about 2 stitches to 1”, as well as the Swedish Dubblemossa at 6.5 to 1”, and the ‘Scarf/Hat’ at 4 sts to 1”. In 2-ply, you may produce wonderfully warm sweaters, jackets, hats or coats; and we have an amazing garter-stitch afghan worked in 4-ply by knitting from inside and outside of two wheels sitting side-by-side“.

Wool has been imported by Schoolhouse Press since 1961. It is the same yarn as Ístex Plötulopi.