Not to scare you away, but I would check out the safety section of the forum. It's always been my opinion that pictures make things very real. With that said, I would read up on speeds, feeds, and depth of cuts for different materials. It's also very worth reading up on different types of cutters; shapes, orientation, carbide and HSS. That way you know exactly what you need for the job. It's not always the operators fault if something just isn't working out, sometimes its the tool that's giving you the problems.
Steve's suggestion for getting PVC is a good one, It's also worth getting some cheap solid rods of plastic from online distributors, I like
Onlinemetals, They have a great selection of just about any type of stock you want. For plastic, I like UHMW its cheap and cuts really nice.
Besides that though, to get started I would suggest something like a threaded bolt. This cover facing, OD turning to a shoulder, threading and parting. It also uses a live/dead center depending on how long your threaded rod is. Draw up a sketch and try to keep everything within a tolerance.
I'm sure you know, but eye protection is crucial!
Past that though, Just enjoy it. If it's for a hobby, treat it as such and don't get too stressed if problems arise. That's what the forum is for!