Super 100's
Refers to the thickness (or "fine-ness") of the fibers as they are sheared directly from the sheep: Super 100's yarn must be under 18 microns in thickness.
Super 100
A term used to indicate the merino qualities of certain wool fabrics that do not fall under the Super 100's classification because the yarn is slightly thicker than 18 microns.
Super 120's
This term does not refer to the yarn but to the fibers of the wool itself, which are sheared form the neck and shoulders of the sheep only (usually Tasmanian sheep) and which must be under 16 microns thick. The shoulder wool from sheep bred on the Island of Tasmania (off the coast of Australia) is merino quality and is used exclusively for Super 120's, Super 100's and Super 90's cloth.
http://suityourself.com/care_of_wool.asp
http://www.scabal.com/html/from100to200.html