karakul

1. Any of a breed of Central Asian sheep having a wide tail and wool that is curled and glossy in the young but wiry and coarse in the adult.
2. Fur made from the pelt of a karakul lamb.

[After Karakul, a lake of eastern Tajikistan.]

An originally Russian breed of wool and milk sheep that produces the curly coated fleece so desired by hat and garment makers in Asia. There are many sub-breeds producing a variety of colored wools, varying from traditional black, through gray, brown, to rose, and occasionally spotted. The desirable wool is obtained only from the pelts of full-term, newborn lambs. Survival for a few days or prolongation of pregnancy seriously reduces the financial worth of the pelt. Called also caracul, Astrakhan.

Karakul sheep. By permission from Sambraus HH, Livestock Breeds, Mosby, 1992

The noun has one meaning:

Meaning #1: hardy coarse-haired sheep of central Asia; lambs are valued for their soft curly black fur
  Synonyms: broadtail, caracul