WordNet sense 1 (tanned skin of a sheep with the fleece left on; used for clothing):

sheepskin

WordNet sense 2 (rip off; ask an unreasonable price):

hook, overcharge, pluck, plume, rob, soak, surcharge, gazump

WordNet sense 3 (outer coat of especially sheep and yaks):

wool

WordNet sense 4 (shear the wool from):

shear