What you need:
Vanilla Beans- I found this at two different grocery stores...but not Walmart. They are with spices. I paid $11/2-pack and got 2 packs.
Vodka- Seriously, if you're going to do this, do it right. Use a nice vodka. I used Grey Goose.
A container for now- preferably light proof, so I used a stainless steel thermos.
Containers for later- you don't need these ASAP. You also still want these to be somewhat light proof; either brown, green, etc. Here's some glass brown ones for 75 cents each.
Labels for your gifting containers- again, you don't need those right away, but you can get some label paper and find ideas like this one, this one, or even with vinyl like this. I haven't made mine yet- future post! :)
What you need to do:
First, decide how much you want to make. I wanted to make 2 cups. The industry standard for vanilla extract is .8 beans/cup. I decided to go with 2 beans per cup after doing a lot of research. So I gathered up my vodka and poured two cups into the thermos.