The most common and most likely answer to this crossword clue is the 6 letter word BURNET
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More clues leading to the result BURNET
Buddy explains!

The straight part
We know that "fine dark woollen stuff" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case fine dark woollen stuff = burnet.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does BURNET mean?
BURNET noun- Any of the herbs of genus Sanguisorba (syn. Poterium, including
- Any of several species of moths of the family Zygaenidae, typically having black forewings with red spots.