It can be done without the use of power tools, though the use of a few power tools will make it a lot easier. I rough out the shape of mine with a band saw (skrol saw would do the same). Use the beltsander to get the general shape, and then finish by hand sanding. You can buy the lips for them, or cut your own from lexan. Seal the wood, epoxy in screw eyes (or make a thru-wire harness), prime, paint, and clear coat. Paint can be rattle cans or you can get an airbrush and go all out. Cost really depends on the route that you take.
Andrew