Socks are easy to find at dollar stores. With one pair of adult socks and three pairs of childrens socks, you can make a pair of cuddle Knitwit dolls as shown here an Martha Stewart.You can also make a sock dog or elephant from mismatched socks.
You can vary the look by changing the tail or ears. Here's a basic tutorial from a peek inside the fishbowl.
Here's where to find instructions for the Original Rockford Red Heel Sock Elephant. I gave mine a retro circus look with yarn pompoms and fabric scraps hot glued or sewn on.