FOs – Finished-Objects – These are knitting projects that have been finished, meaning that not only has the knitting been completed but also, the various pieces have been blocked and sewn together.
KIP – Knit-in-public – Knitting in public areas especially on public transportation and in parks.
LYS – Local-Yarn-Store – This is a store that you regularly visit and purchase from. It may be a retailer or online establishment.
SABLE – Stash-Acquired-Beyond-Life-Expectancy – This is term applies to yarn purchasers who continue to buy more yarn than they can reasonably knit in the foreseeable future. (Also see Stash.)
Stash– This is the yarn and fiber that a knitter has acquired over time with the intention of making a wonderful knitted object. Just the fact of ownership of the yarn gives a knitter joy as does frequent viewing and petting of the yarn. Often, the knitter keeps accumulating more and more yarn faster than (s)he can turn it into finished projects.
UFOs – Unfinished-Objects – These knitted pieces aren’t related to aliens and their space conveyances. They are knitting projects that for one reason or another haven’t been completed. Often, there is a very sound logic for the unfinished state of the project. These projects live in knitting bags and baskets or more likely out of sight in the bottom of closets and other storage areas to minimize guilt on the part of the knitter.