Merriam-Webster's Collegiate® Dictionary, 11th Edition
SPOOL
I. noun
Etymology: Middle English spole, from Middle Dutch spoele; akin to Old High German spuola spool
Date: 14th century
a cylindrical device which has a rim or ridge at each end and an axial hole for a pin or spindle and on which material (as thread, wire, or tape) is wound, material or the amount of material wound on a spool,
II. verb
Date: 1603
transitive verb to wind on a spool, wind , to regulate the transmission of by means of a spooler , intransitive verb to wind itself on a spool, to be wound or unwound, to regulate data flow by means of a spooler