When I was in college I went through a big jewellery making phase. I had a whole bunch of beads and beading supplies from my grandmother, and I used to make bracelets, earrings, necklaces, etc. and sell them at school.
I spent a good part of one summer following the Grateful Dead and that's where I leaned how to do bead weaving from one of the girls I was travelling around with. My friend Julie used to go to Goodwills and other thrift stores and pick up cool hippy style clothes that would be cool to dance in and we used to set out a "booth" in the parking lot village to sell our wares.
My neice just started college and she makes some pretty cool jewellery too. Her mom and grandma had a bead and jewellery store and she takes the leftover merchandise from the store and makes them fresh again. I told her about my experience and that she should set up shop in the college commons before Christmas break and make some extra money!
The hobby is really big right now, and a lot of the earring findings and supplies she has access to are quite expensive!