Thanks everyone for your comments.
So I decided to call it "pinwheel". The idea of "Thread Pinwheel" comes from a kind of pinwheel in which thread is used. It's a pinwheel to which pieces of thread are attached. The question "Does it work?" doesn't matter, I'm just wondering if this combination makes sense and if the sentences / definitions above fit this combination "Thread Pinwheel".
If you search the Internet for "thread pinwheel" (use the quotation marks), you will find that that name is used for pinwheels that are sewn, as for a quilt.