Collecting is a core aspect of Yoshi's Woolly World. There are several types of collectibles, each contributing to your progress and unlocking new content:

- Wonder Wools: These are the most important collectibles. Each level contains 5 Wonder Wools. Collecting all 5 in a level will re-knit a new Yoshi, adding it to your collection of playable Yoshis.
- Smiley Flowers: There are 5 Smiley Flowers in each level. Collecting them is crucial for unlocking new levels on the world map. You need a certain number of Smiley Flowers to progress to the next world.
- Stamp Patches: Hidden throughout levels, these patches unlock stamps for use in Miiverse (on Wii U) or for decorating your Yoshi in the 3DS version.
- Beads: The primary currency. Collect as many as you can! Beads are used to purchase Power Badges before starting a level.
Thorough exploration is rewarded, so take your time and investigate every nook and cranny. Many collectibles are hidden behind invisible clouds or require specific actions to reveal.