Usually this time of year people are getting their last years fashion clothing for winter out and buy new stuff with all the sales starting (yeah, lots of stores have winter clothing out already), at this one Goodwill store I stop into a college aged female was complaining that there wasn't any wool socks out yet and complaining to anyone who would listen 'I'll be dammed to pay $10 for a pair from Cabella's", a older lady said, "honey, just go over to the childrens rack and buy the merino wool sweaters, cut off the arms, sew the openings closed and you've got wool socks".
The girl looked at her as if she was totally crazy, but then the couple who were near her said, "Thanks for the great idea." and went over to the childrens area. I went over to the section also to take a look. Let's see, sure they won't have the form fitting and comfy-ness (yeah, I know it's not a word) of commercially made socks, but in a pinch it seems to have good merit in working. One could always reinforce the heel with a second piece of material.