Answer:
This figurative sentence is a simile.
Step-by-step explanation:
As you may already know, a figurative sentence is one that does not have a literal meaning, but a subjective and interpretative one. Regarding the figurative sentence shown in the question above, we can say that this sentence is similar.
The simile is a figure of speech that establishes a comparison between two completely different terms, but that have an element that allows them to be compared and to establish a meaning.
The similarity of the sentence can be observed when the speaker compares the shrinkage of the school compoud to the wool socks he had won. A school compoud and a wool sock are totally different, but the ability to shrink the two can be compared and establish meaning within a sentence. This is an example of a simile.