Can you bring in a Merrino wool wrap from South Africa with ostrich feathers into Australia?

Everything in my answer is directly copied from the What can’t I take into Australia? leaflet.

Both feathers and wool are under "Goods that must be declared". What happens upon declaration? These items must be declared and inspected for signs of insects or disease. Some items may require treatment before being allowed in (for example fumigation, irradiation) and these treatments are subject to fees.

In many cases the goods you declare will be returned to you after inspection. However, any item that presents a disease risk or is found to contain insects or larvae will be withheld.