I appreciate everyone's comments and suggestions.
I looked at it and thought, "It's a lovely color, but there is something about it that brings to mind "deformity", because there is so much asymmetry." But after a while, I couldn't help thinking of a jellyfish every time I saw the yarn. When you see jellyfish in a tank in an aquarium, they really are quite beautiful (like in Finding Nemo!) But there is another side of them that repels you.
So I'm calling this my jellyfish yarn, and I'm mulling over some kind of jellyfish-inspired project.