Take the wool out of the pot with tongs and put it into warm soapy water to rinse. Squeeze out any excess dye without agitating too much, then hang on the line to admire the result and plan the garment you're going to knit.
I've been checking out some springtime blogs in the northern hemisphere and was inspired by the wool blankets dyed by here at Small Wonders. Taimarie has provided some good links to follow and before I knew it I was in the mood to do some dying. I havn't tried with blankets but wound some recycled wool into hanks to make multi coloured yarn. My Aunt who has entered the World Of Wearable Art for years taught me this simple method which requires only food colouring and white vinigar. Wind some wool into hanks and wet it. Bring a dye pot with a few centimetres of water to the boil. Add about 3/4 of a cup of white vinigar to the water ( this sets the dye) or acetic acid could be used then you'd only need a tablespoon or so. Lay the hanks on the water and sprinkle the dye on top, Steam, dip or stir to create the desired effect. Add more water and vinigar if it all gets absorbed. It takes around 10 to 20 minutes of simering for all the dye to be absorbed, don't stir too much or it will felt. Experiment!