In a bowl, stir together the yogurt and salt. Scrape into a square of quadruple layer cheesecloth, at least 8- by 8-inches square.
Pull the sides and corners of the cheesecloth up to make a little bundle. Tie the cheesecloth closed around the yogurt with kitchen twine.
Place the bundle in a small strainer set over a bowl, place in refrigerator, and allow yogurt to drain for at least 8 hours, up to 3 days. The longer you drain the yogurt, obviously the thicker it will become.
You can also "hang" the bundle from a skewer or chopstick into a very deep bowl to drain, which is what I did because somehow I got it into my head that the weight of the yogurt hanging freely is a more effective way to drain, but I failed college physics twice.
After the yogurt has drained, remove the thickened labneh from the cheesecloth and use as you would cream cheese or soft goat cheese, or serve in a bowl drizzled with olive and spices as a dip/spread.
Store any leftover labneh in an airtight container in the refrigerator for up to three days.