My favorite coffee is a hard question to answer. I have several. Usually I drink Columbian with my sugar free vanilla creamer. It's nothing special, but it's a favorite because I look forward to it when I wake up before heading off to school. When I have more time, and maybe a little more money, I make or go pick up Vanilla Lattes. When I pick them up I hit up starbucks. I've tried other coffee places, and I still think starbucks has the best. (I'm a big fan of having vanilla added to my coffee, obviously.)
My favorite yarn is hands down Malabrigo merino. There's no contest for me. When I first started knitting I was mostly using acrylic yarn that I could buy for cheap. I took a recommendation from a friend to do a project in Malabrigo, and I've never wanted to work with acrylic again. I try to fit Malabrigo into every project that I do. It's my favorite. My particular favorite colorway is "cactus flower," which is such a pretty pink.