In my tailoring (wool) class, the first thing we had to do was make a tailor's ham. We had to use wool, go to a woodworking shop and get the sawdust. And we had to actually pound it so it would be extremely hard. So, yes, it does contain sawdust. (any may have nail pieces or metal chips in???) I would only use Lysol and set it in the sun.
Smell it. If it smells bad, I would toss it. I know I can't get in my wool suit anymore, but I sure learned a lot in class and have used the ham for a lot of things. I also used a lot of sewing methods I learned too!