Mattel Knit Magic Kit. Another Weird Find From The Dig

Weird after finding the other one of these, Needlepoint Magic? I went and found this one there too. I guess it's cool. It's always nice to save something this old from the landfill right? 

I wonder how it works? I'm not interested enough to try and figure it out but maybe I should give it a go. I could knit some little gear for my GI Joes, The 3.75 inch ones dude. I don't play with dolls or anything.