I don't know what you all celebrate but we do Christmas in my family. This Christmas I got a big haul of yarn from my family. My grandma gifted with with all the yarn left over from her stash. My Brother-in-law and sister got me the yarn on my wish list from Iceyarns.com.
I think one of the top gifts I revived with from my husband. It is a project organizer for yarn, it is a bag that has sections, one side of the section of spaces where you can place 6 skeins of yarn in individual pockets and pull the ends threw the top of the bag ensuring your skeins don't get tangled up or roll around on the floor/couch. The other size has enough space for a full size blanket worth of skeins.
I have already put it to work, stitching up a blanket for my brother-in-law. We picked out this yarn off the web site but I did not realize it bobbled from lace weight to worst weight so the blanket is looking very rustic.
I have been wanting for a long time to try out some of this ice yarn and it works up nicely. I know there was yarn snobs out there who turn there nose up at 'cheap' yarn, thinking if its cheap the yarn has to be trash. Well I have been working with it for a few days and it holds up nicely compared to the more expensive stuff that I eventually shelled out a load of money for its just as easy to work with and feel great.
Lastly, yes that is a rubber band loom. Its really fun to play with, but if you want to make adult sized bracelets you need multiple looms. For the original price of the name brand loom I got 4 of this loom. It works just the same way except they connect together by the side and not from underneath so you can have them side by side or staggered like in the image. My friends got there oldest boy the name brand loom and I can not see a difference between bracelets made on his, and ones made on mine.