Bill Paxton (as usual) cuts pretty close to the bone. My "kitchen table" shop for small wood projects is a wooden cutting board, a cheap hobby vise, files, a wood rasp, and a Dremel tool with an assortment of sanding drums. A small saw is useful, but not always necessary. A portable vacuum with hose attachment will help mollify SWMBO, or the landlord.
Great native carvers, when interviewed by Diane and Charlie, always say something like "I just look at the wood, and cut away anything that isn't......(owl, eagle, buffalo, Farrah Fawcett, whatever). If this BS doesn't work, just draw out the 'hawk head on the block, to your measurements and cut away everything that isn't 'hawk, using the coarse sanding drum and rasp for rough-out and finer drums for shaping. This set-up doesn't have enough strength for drilling the hole, so a friend with a drill press might be handy.
If the vise and Dremel tool aren't on hand, the investment is a bit much for one project. OTOH, if you jump in at the deep end, you are bound to find other things that you absolutely need to make. Woodchuckitus automatically justifies self
[This message has been edited by Walosi (edited 06-23-2001).]