I usually start by design. Once you know what you want to do, then you can start gathering the supplies. Basically starter kits:
Bait Pony (prepped with acetone to remove eyes/symbols)
Hair if desired and method for rehairing (rehairing tool, wire, doll needle, ect)
acrylic paint (thin it out and do multiple layers. Let them dry completely or you'll get streaks)
sealant (testors dullcoat and mod podge are standard)
brushes or cosmetic sponges for paint application