So I did.
Here's the process I used to Kool-Aid dye two skeins of Debbie Stoller's Full 'O Sheep 100% Natural Wool (colorway Little Lamb).
Tools Needed: 100% Natural Wool, Packages of Kool-Aid in color choice(s), Pan, Pot, Water, & Space for drying
Second: Pull out your Kool-Aid packages. I used two packs of Black Cherry and two packs of Lemonaide. (I had kind of tie-dyed effect with the yarn, where the color is lighter in areas. Next time I will use more Kool-Aid for a stronger, and hopefully more even, dying.)
Third: Soak your yarn in a very luke warm water bath. If the water is too hot it could start to felt and you don't want that.
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Fourth: While you're yarn is soaking, you want all the yarn to get good and saturated, fill a pot with water and let that water start to warm on the stove.
Fifth: Just before the water starts to boil, remove from heat and drop in your Kool-Aid packs and give it a stir.
Sixth: Gently place your presoaked yarn in the Kool-Aid water. Stir gently around to help the dye reach all the nooks and cranies of the yarn or just swirl around to help create a kind of tie-dyed effect. Becareful not to cause too much agitation however, because you do not want to felt the yarn.
Seventh: Let your yarn sit in the water. The yarn will start to absorb the dye from the water, and you will see you're yarn become colorful.
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Tenth: Roll, wind or ball your Kool-Aid dyed yarn and use!
There are a lot of great tutorials online for dying with Kool-Aid. Just Google How to Dye Yarn with Kool-Aid and you'll get about 1,250,000 results. I read many of these tutorials and watched some YouTube videos and thought, this is something I can do.
And it really was that easy.