partially oriented yarns include but are not limited to partially oriented polyester yarns partially oriented nylon yarns partially oriented polyolefin yarns and partially oriented yarns comprising a combination of any of such fibers e g polyester nylon and polyolefin fibers in certain possibly preferred embodiments the heat shrinkable yarn is a partially oriented polyester yarn when the heat shrinkable yarn is a partially oriented yarn the partially oriented yarn preferably is coated with a suitable lubricating oil to reduce friction during the wrapping process which may otherwise result in unintended drawing of the partially oriented yarn as noted above the second yarn is wrapped around the perimeter of and along the length of the first yarn in the process of the invention the second yarn can be wrapped around the first yarn using any suitable means for example the first yarn can be fed through the center of a rotary hollow spindle assembly where the second yarn is fed from the spindle and wrapped around the perimeter of and along the length of the first yarn as it passes through the rotary hollow spindle assembly the second yarn can also be wrapped around the first yarn by twisting the first and second yarns together using any suitable yarn twisting apparatus or by cabling the first and second yarns using any suitable apparatus adapted to cable a plurality of yarns during this process the wrapping of the second yarn around the first yarn produces a yarn intermediate which is subsequently processed to produce the composite yarn of the invention the second yarn can be wrapped around the first yarn at any suitable rate or with any suitable number of turns or twists of the second yarn per unit length of the first yarn the second yarn typically is wrapped.