Twisted thread that may be spun by storytellers (4)
I believe the answer is:
yarn
I believe this clue is a double definition.
'twisted thread' is the first definition.
(yarn is made up of twisted strands)
'that may be spun by storytellers' is the second definition.
(as in spinning someone a yarn)
(Other definitions for yarn that I've seen before include "Sham" , "Spun thread or wool or tall tale" , "Not fully credible story" , "Long involved story" , "Rambling story" .)