Are you talking about cotton interlock?
If so - it is an awesome fabric - it mostly stretches crosswise, with comparatively little lengthwise stretch.
My Mom used to weave rugs on a two-harness loom, and she would use knits a lot - but she cut them so the strips were not stretchy.
I used to wash the fabrics before passing them on to her. She would not have liked wavy edged rugs caused by uneven shrinkage of the components used.
I think she made one rug from nylons. She did not enjoy the experience.