New and Overwhelmed

Okay I am addicted to watching all the YouTube videos on this art. I bought a kid from Target which I'm pretty sure have the crummiest possible tools but I had to start somewhere. I didn't want to order $300 in things and not like doing this.

With that being said I'm pretty sure I'm going to need some sort of Oxford punch tool and some sort of decent gripper frame thing.

I have no idea how to determine what size yarn to get with say in Oxford size 8 or 10 does that sound right?!

This is an overwhelming hobby when you don't know where to start but man I'm excited!