I started fooling around with making sheaths awhile back and now I'm getting sort of good at it. Functional but lacking the polish of more experienced hands. Anyway I thought I'd share my learning curve with anyone who was curious.
 First is a shopping list,
Speedy Stitch Awl (comes with waxed line in handle for $20)
Bag of leather scraps ($10)
Leather punch, there are several to choose from starting from $12-$50
Metric Ruler
A needle set. They look like regular sewing needles on steroids
OPTIONAL ITEMS
Line snaps, more commonly known as buttons.
Rivets
Tool for marking the holes to punch out for stitching
All the different stamping tools for getting fancy

 There are two kinds of scrap bags, thick and thin. The thin stuff is useless for sheaths (also known as why my first one sucked badly). Pick through the bags and find one that has larger pieces in it that colors match. Some bags are full of useless colors (got some gold sparkling shit in a bag recently). Set the good leather off to the side, and begin working with the shitty looking scraps. You can use the shitty scraps to get your designs or templates right because if you measured something wrong or screw up a piece you didn't waste a good piece of leather that you really wanted to have your sheath made out of. 
My sheaths consist typically of three layers, front, back and the middle layer. The middle layer starts off being the same size and shape as the front and back, but you can use an uglier piece of leather for this because only the outer edges will be seen. You also want this piece to be nearly as thick as the blade, even thinner if you intend to make it a friction fit instead of using a thumb strap of some type.

Designs are easy, Google images are full of them, be a copycat all day long. Or start with a simple one like a K-Bar sheath and copy it as best you can. Sheaths like that will require line snaps and rivets. Look at the designs closely though. The trickiest part I think is knowing what gets stitched first and spotting stitching conflicts ahead of time. Not only that but I've learned that stitching anything more than three layers at a time is hard to do and usually looks pretty ugly on the backside.

 Why the backside? When you lay out where the stitching goes do it on the front piece, this is the top layer that a logo would normally be on. This is the most prominent part of the sheath as it is what everyone sees first. Line these up as close to perfect as you can. You can use the marking tool Hobby Lobby sells or a metric ruler like I do placing the marks 5mm apart from each other and any edges. So when tracing out the blade on the middle layer you want a 10mm border all the way around the blade. The middle layer also dictates the general size and shape of the sheath due to the outline of the blade and 10mm thick border around it. But back to the stitching. Once you have that front layer marked you can try to mark the middle and back layers the same way you marked the top one or......set the top one on the middle after punching the holes out and sticking a pencil through to make dents in the leather to punch out. Then set the top layer on the back layer and do it again. So far this is the best way I've found. Punching all three layers was tough to punch through and the thickness screwed up the alignment of the holes. Using a drill to do three layers was as bad and messier. It is much easier to mark them out and punch them out one layer at a time to get better alignment of the holes. This is very important because the better the holes line up the easier the stitching goes. Using the Speedy Stitch can be learned from youtube, just make sure you start with well more than enough line pulled out because it sucks to run out of line before the run of stitches is finished.
Using templates. I was using them a bit too much and what was traced on another piece then cut then traced started to make ill fitting and mismatched pieces. It works much better if you fit each piece to each piece. Take care to make the front middle and back pieces match as closely as possible. When you lay them out the back piece should be placed rough side up, the middle should be smooth side up because it's hard to trace the blade shape on the rough side. Naturally the front layer is smooth side facing up too.
Once these are marked and the holes are punched it's set in stone if you make the mistake of setting the back layer smooth side up, you cant flip it. The holes won't line up and the the outline won't match the shape of the front and middle layers. If you can't live with the mistake you are more or less relegated to making a new piece entirely and scrapping the old one. Use the pencil for marking the pieces if you need too. Even square pieces you cut may only line up one way and reauire discreet pencil marks to avoid confusion or stitching a piece on incorrectly lined up.

Thumb straps require time and patience. Measure the width of the line snaps so that you cut the the strap wide enough and leave it a little too long to start with. If it is to lace through the sheath like on the K-Bar sheath, fish it through, then fit it to the knife handle. Get the snaps lined up as best you can, punch a hole then mount them. Snaps and rivets require setting tools that are supplied in some kits but not others, pay attention to what kit you buy so you have the tools you need. Once the snaps are set get the snap centered on the handle then carefully undo the snap, remove the knife and then punch a hole and mount a rivet in the back of the strap to the sheath to secure it in place. Rivets can be obnoxious, I highly suggest testing them out on the garbage scraps first to see how many layers of leather each kind of rivet will secure. Too long and the layers separate, too short and the rivet is hanging by a thread ready to pop out at your inconvenience. I like using screw posts as opposed to rivets as you can take them apart and put them back together.

 As far as wet molding pouches and other things I have not yet tried that as the basic project of making a sheath hasn't gotten easy enough for me to frustrate myself with it yet. Hope you guys learned something from what I posted and want to give it a shot. Once again I'd love to show pictures but I can't post them for some reason.

ETA: I figured out a way to get my pictures posted obviously and second the whole reason I started doing thses sheaths was because of the cheap sheaths thay came with my OKC RD7 and TOPS Tahoma Field Knife seemed like they deserved better.

Postimage.org

A good knife to start with is an Izula because of its small size. Less stitching, holes to punch and the scraps don't have to be that big. However it can be tricky because you have to take into account the sheath size vs the size of the belt it is to ride on. A vertical mount wojld be easy but to make it a horizontal it required more thought, especially since I wanted it to do both. A large field knife is easy to make a K-Bar stye sheath for with multiple mounting methods but requires large scraps which can be tough to find enough in a single bag to do the whole sheath. And there is a lot of stitching and punching to do.

My phone isn't cooperating.  If someone is willing to share their email with me I'll send them so that they can be posted. It would be really nice to show early stitching ugliness from botched hole alignment compared to what I can do now. 

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This the first one I made for my Izula notice the crude shape and crooked stitching.

Third Izula sheath. See how much uniform the edges are and how much nicer the stitching looks. Attached File

Tom Brown Tracker clone I did for a friend
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It is a horizontal small of the back deal. Not the best looking stitching.

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First BOB
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Backside of BOB, showing how it can be carried horizontal or vertical.
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This knife can reversed in the sheath and the retention strap can be reversed also by spinning ona rivet.
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Look how bad the stitching on this second BOB is. This is before I started punching the holes out one oayer at a time.  Looks like garbage and it also demonstrates why I should have practiced on a garbage scrap piece instead of that nice looking gray piece I defiled.
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The first BOB and the Tahoma I cheated by using black line on black leather because it doesn't make the mistakes stand out as much with the stitching. I really should have taken more time doing that second BOB so that the contrast between colors would be a positive thing instead of a negative. Look at how the third Izula sheath showcases the white stitching against the black leather. Like I said earlier these sheaths are good from a functional standpoint. I suspect that as you make them you'll always be aware of the flaws and just have to be mindful and pay enough attention to detail not to create the same ones twice. It wasn't until I did these last three Izulas this weekend that I finally figured out the best way to lay out the stiching and fit each piece individually makes the difference.  Attached File

Forgot to mention  these can be worn horizontal or vertical
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Started a new BOB today but didn't get to put the thumbstrap in
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They are getting more refined with each new project. Looking good. I'd love to be able to make my own leather goods and admire your initiative. May try it myself at some point.

Start with something small like an Izula because they won't take as long and you'll get more mileage out of a bag of scraps since there aren't as many big pieces as little ones. 

Finished! Since a second lower quality version was no longer needed, I chopped off the top half  to make it a more specialized either for horizontal carry or attaching to a pack strap.
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Regarding stitching...

Ditch the speedy awl. If you want clean stitch lines invest in a stitching groover, an overstitch wheel and a stitching pony.

Layout your pieces and use the the groover. I've always used 1/8" or 1/4" from the edge of the sheath depending on how thick the overall piece will be. Follow the edge of your piece and allow the groover to cut a light channel in your leather.

Use your overstitch wheel to lay out the points of your stitches. There are several different sizes but I find that 5 or 6 stitches per inch does most of my chores pretty well.

Now.. Here comes the part some will find sacrilege....

Get out your dremel and chuck in 1/16" bit. Drill out your stitching holes.

Once all holes are drilled out, assemble you front, back and welt. I generally use a very light amount of contact cement. Just enough to hold them together while lining up my drilled holes.

Place glued sheath in your pony and using harness needles and thread, stitch the piece using a saddle stitch.


Back about 20 years ago, Dusty Johnson wrote an article in Leather Crafters and Saddlers Journal about breaking with tradition and using a drill to create stitching holes. If I recall, he tested the strength of stitches created using drilled holes versus traditionally stabbed awl holes. The drilled holes held up to more stress.. Also he mentioned that the only reason old saddlers used an awl is because they didn't have a drill.

I don't use the awl to punch through the leather. I just use the speedy stitch to run the stitching throught holes I have already mad. I bought a $12 leather punch to do the holes themselves. I initially tried using a Dewalt drill but it made an awful mess to clean up. 
 This week I'll be making a sheath or two or three for an ESEE 5 for my nephew. First step is to go back to Hobby Lobby and get larger scraps tonwork with because I don't have enough large pieces left after the Tahoma project.

First ESEE 5
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I've never used a speedy stitch.
I've always used a saddle stitch, using two needles. Each stitch I'd essentially a lock stitch.
As for leather, do you have a Tandy store close by?
I've always had good luck picking up double shoulders in person. Last year I got two at $40 each. That's enough leather to make all the sheaths I'll ever need.

As far as I know just Hobby Lobby, but I'm not far from Chicago so there is probably a better option within an hours drive.

Elgin, IL #28
1041 Davis Rd
Elgin, IL 60123
Manager: Dan Wegert
[email protected]
Phone: 847-289-5227
Fax: 847-289-5243
Toll Free: 800-836-6853
Store Hours:
Monday-Friday: 9am - 6pm
Saturday: 9am - 4pm
Sunday: Closed

Elgin isn't real close to where I live. Googling leather supplies in Chicago took me to some fairly deviant websites that seemed innocent at first.

2nd ESEE 5
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I was really happy to notice that you can buy ESEE knives considerably cheaper if you buy the knife without a sheath. $44 difference on an ESEE 5.

Interesting work fellas. I will check out the local Hobby Lobby and see what comes to mind.

Thanks for the compliments guys! I'm letting my subscription lapse tomorrow so this will be my last entry, it's a SOG Tigershark that I'm not quite finished with and it was rushed so the stitching is not so good, but still functional. Just needs a thumbstrap, maybe even two.
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I let my subscription run out but it looks like I lost my perks not my login, I'll see if I can post pics of the finished SOG sheath later.

Turns out Hobby Lobby also sells some exotic type scraps too. I found a piece of Alligator leather big enough to use on at least two sheaths. It's very thin so first I have to glue it to another piece of leather to make it thick enough to use for a sheath. I'm hoping to get and ESEE 5, a BOB, and another Izula out of it.

I still have to find some more color matching leather poeces to make the sheaths but this is the rough face pieces. Unfortunately there wasn't enough left to make an Izula.

Reality was a google away. This is most likely Alligator embossed cowhide as I just saw many examples when looking to find more gator leather.

I'll finish this tomorrow, and I am certain I do not have enough color matching scraps to do the BOB.

Finished!

Next up is a request from a friend to make him a dangler sheath for his Mora. As I plotted designs two things occurred to me. The first was that Moras snap into their sheaths kind of like Tupperware and the second was that why make a nice leather sheath for a Mora? So instead of a sheath, why not a dangler adapter? I need to get a good ring for it and then make the strap for the belt but it should work out pretty good.

And yes it will have a bunch of stitching in it to hold it together and make it stronger.

Went shooting last night so I didn't get to finish it but I will get it done later.

Bought a $10 bag of leather scraps yesterday.  Only project in mind right now is to modify, slightly, an IWB holster.

The bag feels like it weighs 4 or 5 lbs.  Several pieces big enough to make a knife sheath from.

Sweet! Just remember to experiment with the ugly pieces first, other wise you're likely to mess up the good pieces. What are you trying to do to the holster?

Done!

Pardon the bad pic it was a funny angle to get a shot of it.

The small rivet was put in so that the ring and sheath don't automatically fall off your hip if the buttons come unsnapped.

It's an ambidextrous kydex holster.  It has holes on both sides for the belt clip and I'm going to use those holes plus a couple Chicago screws to put a piece of leather on the "inside" to protect my spare tire from the hammer on my CZ 75 Compact.

LOL do what you gotta do brother!

The 2d link had some good stuff for future projects! Anyway I  almost got a dangler made for my RD7 but I was short three line snaps to finish it. Back to Hobby Lobby.

Got home in time to work on the holster today.  Opened the bag (lots of pieces that would work, some big pieces) and picked through the stuff.  Grabbed a piece, drilled some holes in it in the right spots (had to take the other screws out of the holster first, to open it up a little and for alignment when drilling the holes in the leather.

Oh, got my Chicago screws in the mail yesterday, so I had those, it was time to start.

Got the piece of leather attached to the holster at the top and bottom on the inside, against my tender skin.  Works like a charm.  Can't even tell that hammer is there and I'm carrying the CZ cocked and locked.

I may modify a P07 kydex holster in a similar fashion tomorrow after I come back from the gun show.

Nice! Got pics?

Those of you who voted "yes" please post some pics. I was hoping to see some first attempts by now.