When it comes to wool, it doesn't matter whether it's for children or adults. Fabric content labeling is an FTC thing, not a CPSC thing.
Here's a page that might help:
http://business.ftc.gov/documents/bus21-threading-your-way-through-labeling-requirements-under-texti...Wool Products: What’s Covered And What’s Not
Most products that contain any amount of wool — including clothing, blankets, fabrics, yarns, and other items — are covered by the Wool Act and Wool Rules. While the requirements for wool products overlap those for other textiles, there are differences.
• A wool product is any product (or portion of a product) that contains (or is represented to contain) wool (including recycled wool). NOTE: Products exempt from the Textile Act and Rules — such as hats and slippers — are covered by the Wool Act and Rules if they contain any wool.
• Recycled wool is wool that has been returned to a fibrous state after having been woven, knitted, or felted into a wool product, regardless of whether a consumer has ever used the product.
Products not covered even if they contain wool
• Carpets, rugs, mats (however, these items are covered by the Textile Act and Rules)
• Upholsteries
• Wool products made for export
Fiber Content
If your product is covered by the Textile or Wool Act and Rules, it must be labeled to show the fiber content. The generic fiber names and percentages by weight of each constituent fiber must be listed in descending order of predominance.
(there's more if you follow the link)
:-)