Some of us know what it entails and were therefore not curious.
It means reclaiming the wool and knitting (or felting) something new with it. So long as the garment wasn't serged (which would mean lots of short lengths of yarn), you can grab an end on the body and start pulling it out, winding it into a ball as you go. Repeat for the sleeves and you have three or so good lengths of yarn to make whatever you feel like. My wife does this all the time; cashmere on the cheap. In fact, she just grabbed a BB cashmere sweater the other day for a couple bucks to do just that with. Not the greatest cashmere, but not terrible.
Speaking of cashmere, I found a beautiful herringbone Aquascutum cashmere sport coat the other day that fits me perfectly. It's now the nicest coat I've got. In navy, but still pretty nice.
Edited by Madroaster - 1/22/12 at 3:58pm