Tah dah! This little Wool Widget works well. There is a knob handle for safe holding, the wood floats if you want to lay it in the water and you don't care if it gets wet. The brass hooks hold the wool nicely along the salvage edge and you can wrap it around once or twice, depending on the size of wool needed.
Simple to make and easy to control when dipping the wool up and down in the water. Maybe I should have these made for the shop?