So, with all the projects going around about Skyrim, I thought I'd share my own! I will show you how to make a wooden Orcish dagger, and when you level it up you get 8(?) Damage in an object that only weighs 3 and has a base value of 30 gold! I think this is your winner even if I do prefer elven.
So what you need is a piece of wood you will be using for the dagger
Hot glue gun
Dremel (Not unnecessary but very helpful)
half circle files
Step 1: Shaping
Draw your design onto the wood you chose, I made my dagger about 12'' long. Put the wood in the vice and start sawing.
Then when you get the main shape, start going in closer. My wood split a little but I filled it in later.
Then get out your dremel/file and start shaping the grooves. Use your wood shaver to make the handle round, not square-ish. Look at pictures.