This is another one of those Grant effects most likely you have only seen in the catalog and not had occasion to see in complete form. This had a one time appearance in Catalog Number 18 in the late 1960's.
A 10 inch aluminum knitting needle is shown and a spool of black thread is dropped onto it followed by 4 orange spools on top of that. Each time the magician passes a hand in front of the stack the black one moves up one position until it gets to a position second from the top. It then escapes from the needle completely and changes to a large spool of thread of yellow an entirely different color!
As the ad reads "No shells or flaps no half and half etc. This is good clean cut magic that fools! If you are looking for something entirely different colorful and a baffler this is it." This includes instructions and is in beautiful condition.