I've tried wet felting, will find a pic of what I made if I can. Just ordered a basic kit from Amazon and a pattern to try needle felting. The wet felting I went to a local group, I wouldn't of mastered it on my own. Needle felting I have found tutorials on YouTube etc. It looks a little easier but time will tell.
You could start by buying yourself a simple kit to get the idea and some basic and cheap equipment (Kirstie Alsop had some) but you can definitely do it with wool, a bit of upholstory foam, a needle and a you tube video! E.g. youtu.be/LKYgtEL7AYw (I chose that at random, there are thousands!)
You can use a mould to start with or just a ball of wool (if you want to make something roughly round!)
Agreed. I just bought a basic set of needles and some fibre off eBay (less than a fiver all in) and watched a load of YouTube videos. Used a washing up sponge and a small cushion wrapped in thick fabric until I knew I liked it. Now I have all the kit and a big upholstery pad as I absolutely LOVE it! It's so therapeutic and you don't need to fork out a lot to start. I've been making garlands of all different colour and shaped pumpkins for Autumn.