I've slowly been working on making two knives to give to retiring scout leaders and I've just about finished.
The sheaths have an eagle (both leaders are fathers to eagle scouts) stamped into them and the other side of the handle has a council pin set into it. Whenever the buttons come in the mail I'll make the straps to keep the knife in the sheath and I'll be able to finally hand them over to their respective owners. I stupidly left the knives in their sheaths before the sheaths were bone-dry and found them slightly rusted today. :( For round two and to possibly sell a few, I'm going to go with a 6" tanto neck knife and use two separate pieces of leather for the sheath because the fold-over design wasn't really working well for me.
Once you figure out how you're going to manage each step (ie: hardening/tempering) it's pretty simple. Most of my materials came from amazon and probably amounted to a bit over $30 per knife not counting the walnut wood since I had that on hand. But throughout my misadventures, I have learned to hate my local home improvement stores as their websites have listed several materials I needed as in stock but when asked in-store (separate trips!), never were.