That looks so fun! I have never used a lathe before but it looks very interesting!
I checked Amazon.com for prices of Lathes and some books on how to do it.
While I was looking I found a book called Tauntons Complete Illustrated Guide To Turning. The preview looked very helpful and I would consider buying this book if I was going to teach myself to do this. Unfortunately I live in an apartment and all of the saw dust (or sugar dust) would get everywhere. This is something that requires some workspace.