i've, personally, only been making wands for a couple days and playing with techniques to see what i like best; i've found carving has been the hardest part. i haven't delved into any stains yet, but am just trying to get the basics down first. i've also found that i am a HUGE fan of the burnt look, so i've been torching them a bit to make them look like they've "seen it all".
the two below were the first two i've done, the one with the bow is from a maple tree in my front yard; the other was from a tree near the gulf by my house. with the one with the bow, i just sanded it down and burnt the handle, then carved in polka dots. i kept it gnarled looking because it was intended for me, and that's the look i prefer to just being straight and even. the other, i carved out the swirls and dots then painted them with black nail polish, after that i torched the whole thing.
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with the one below, which i did today, i carved out notches in the handle and tried to round the edges down a bit, then carved swirls from the handle to the tip and painted them with purple nail polish, which i then torched. i am not as satisfied with this one as i am the other two but it was a different type of wood and was still very wet when i started the process so i suppose you live and you learn. i still think it came out alright but not the quality which i was hoping to achieve.
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i've found it's much much much easier to work with dry material, though in the case of the wood from the maple, the carving was easiest while it was still in the process of drying. i'm currently working on one with a large handle that comes to a straight, smaller tip (much like tom riddle's wand from the movies.). i hope to also start working with some finishes soon and will hopefully have better tools for carving in the near future. i'm planning on doing a whole series of them to give to hp friends and keep some for a wall display in my house. : ) either way, practice makes perfect and as long as we keep at it, we will be able to pump out some really interesting things!