Step 1: Ingredients
Clockwise (more or less), starting from top left:
Varathane: a satin-finish water-based floor sealer that works nicely on cured polymer clay. It sells by the pint at hardware stores, but you can also get it here in smaller bottles: http://www.polymerclayexpress.com/
Kato Liquid Polyclay: Like regular clay, but in translucent liquid form. Cures hard and clear in the oven.
Kato Concentrate Clays (yellow, red): Also like regular clay, but with much higher pigment content. These are too brittle to use normally, but they work well for color tinting and other fun effects. More info at http://www.katopolyclay.com/
Detail brush: because it's the little things.
Sterling silver wire, 20ga (I think): I like to buy this from http://www.monsterslayer.com/. You can use other metals, but sterling is my favorite.
Wire cutters: for cutting wire.
Round nose pliers: for plying noses. I guess.
Tissue blade: Originally used for harvesting tissue from people, or corpses, or...hot dogs? (See for yourself: http://www.braintreesci.com/prodinfo.asp?number=BS-BLADES) They're also great for crafting, and they're sold in more reasonable quantities at crafting stores.
Rice-colored clay: this is my own mixture, a 30:1 mix (by volume) of translucent clay and white clay. I wouldn't recommend eyeballing the amounts, because slight variations in the mixture can result in weird-looking cured results. If you have a pasta machine, measuring is easy: roll out equal thickness sheets of both clay colors, then mark out the proper areas with a ruler (multiples of 30 cm^2 and 1 cm^2, respectively) and cut them out with the tissue blade. One more thing: this mixing ratio is for Premo Sculpey, because that's what I usually use. I'm not sure how it would differ with other brands.
Glass cutting board: Clay doesn't stick to it too much, and the flat surface is nice for precise cutting.
NOT PICTURED (sorry, guys):
Earrings hooks: because, well, we're making earrings. Cheap ones are available here, alongside many other great things: http://www.firemountaingems.com/
Jump rings: little wire rings for attaching the earrings. You can make these yourself if you're ambitious and/or thrifty.
Extra pliers: not strictly necessary, but really useful for opening jump rings.
Bristle brush: for texturing.
An oven: for curing the clay.