Take a look at the Dodec Spinning Wheel (it's a spindle, not a bobbin, wheel) at http://porterthreads.weebly.com/
. No special wood-working tools needed: no lathe, no chisel. Very inexpensive (many would say "very inelegant," too, but hey!) and accessible. The designer has also produced videos showing the wheel in use.
(I keep thinking that I've mentioned the Dodec here at KH, but...maybe not?)