A lathe can cost as little as $119 for a mini grizzly, you need a drill, bits, sandpaper, handsaw to crosscut blanks to length maybe, Chisels for the lathe, a beltsander is nice to have, then you will need supplies: eyes,paint,wire,swivels,splitrings,hooks and maybe epoxy or varnish.
You might end up spending a grand easy to get set up with a good amount of toolage and supplies(I like to buy in bulk to save dough)
Once you get the bug , it's hard to turn back
Have fun.