This is a simple project that doesn’t take any fancy power tools to do. You can also do it with scrap wood, so it’s cheap. Preferably use a dark wood for the handle and a lighter one for the blade, just for aesthetics. The harder the wood you use the sharper the knife. Wood cake knifes can be used for years. I used to mix wood glue and sawdust to fill small gaps in wood. Recently I have been using sanding sealer/pore filler mixed with the sawdust. It takes finish better and shrinks less.