@Eclectically Vintage - Kelly made these: http://www.hometalk.com/867452/for-my-valentine-a-pom-pom-bouquet-made-with-a-fork
I have the easiest method - yarn and a fork are all you need @Beverly Farkus ! @Miriam I shared in the link above
Take two circles of cardboard, cut to the approximate size of the finished pompom. You can use cardboard from an old cereal box. Cut a hole in the centre. Wind the wool around the cardboard, going through the centre hole. When you have covered all the cardboard and filled the centre hole, cut the wool around the outer edge of the circle. Separate the two pieces of cardboard slightly. Wrap a piece of wool over the wool in the middle of the two pieces of cardboard, then remove the cardboard circles. Your pompom is finished and it has not cost a cent - other than the wool! Hope this helps.