I'm a yarn snob. I don't mean to be but I love, love, LOVE the feel of nice yarn.
hehe there is liking nice yarn, which we ALL do, and then there is belittling a person's project because of their yarn choice. Example:
I was wearing this pair of arm warmers I had made. This girl asked about them, I said I made them and she was oogling over them and saying how much she liked them and could I give her the pattern. I said yes and she asked what yarn I used. I told her it was LB's striped sock yarn (Jellybean or something?) to which she wrinkles her nose and says, "Oh, nevermind. I don't work with junk like that." and turns away. THAT is being a yarn snob, imo.
Affording nice yarn when and where you can because you like the feel is just having good taste!