I didn't take pics of all the steps, but here is the finished product.
I carved the bowl out of juniper and sealed it with a satin clear coat of polyeurethane to protect it from scratches.
I went with the clear to preserve the natural color and grain of the juniper.
The stem came from a pipe shop near where I live. It was an old one that had been laying around for several years from back when they did repair work, so they only charged me $1.25 for it.
I used some of the other pipes that I own as reference material.
For the bowl I made a rounded bit out of a 3/4" spade bit and grinder.
Enjoy, and if you have any questions feel free to ask.