I agree with pocoellie, or maybe save up and buy a little at a time....try ebay as sometimes people sells offcuts, or bits and pieces they don't need. I live in Australia and I recently bought a bundle of 100% merino wool felt from "Two Blue Birdies" in lovely summer colours (7 different colours) for $20.00 plus 3.00 postage they measure 22.5 x 25 cm (that's about 8.85 inches x 9.84 inches). Wool is definitely superior and if your going to spend time making something special, use the best available. Also if it's a toy or something for children the dyes in the wool are very safe and colourfast, something to think about as the acrylic/blends are not always so.
Felting thrift store finds is fun.....I have done it a few times and it has been quite successful. You could even try dyeing it (I have been meaning to try it, but have no time just now hence my purchase of the bundle of colours).