I had to try making a bowl.
Step 1: Chuck it up on your lathe
I mounted it and got it slightly round then went to work on the inside of the bowl.
Step 2: Hollow out the inside of the bowl
I start most of my bowls by using a 1/4" drill bit in the center. Tape off the correct depth (the depth of the inside of your bowl) on the bit and using your tailstock drill chuck drill the hole. This gives you an accurate stopping point while hollowing.
I used a home made Carbide tipped finishing tool.
This stuff cuts nice. It seems easier to control at lower speeds but the higher speed gives the best finished cut, so mix it up a bit but be careful... When it does snag, it will whip the hell outta your hand at 1200 RPM. Not fun!