A wand is a tool used by wizards and witches to channel magical powers. Most spells are done with the aid of wands. It is possible to do magic without a wand, but is very difficult and requires much concentration and skill.
The ancient study of wands and wandmaking is called wandlore. This particular field of magic is studied by wandmakers such as Mr Ollivander, proprietor of Ollivanders in London, and Gregorovitch, arguably the two most famous European wandmakers.
Wandlore dates back at least two-thousand, three-hundred and eighty years (as of 1998), as proven by the sign outside of Ollivanders, which reads, "Ollivanders: Makers of Fine Wands since 382 B.C.". It is, however, quite likely that Ollivanders was not the first wand shop, and that others may well have been around before it.
To study wandlore, one must become the apprentice of an accomplished wandmaker and eventually, after apprenticeship, go on to become one themselves (if proficiently educated in the subject when the time comes).
Mr Ollivander revealed to Harry Potter in 1998 that wandlore is "a complex and mysterious branch of magic" which even the most accomplished do not fully understand. Ollivander admitted that he did not fully comprehend Priori Incantatem and did not know why Harry's wand destroyed the wand of Lucius Malfoy in the Battle Over Little Whinging. Wandmakers also believe that the wand chooses the wizard, and that wands can, to a degree, think for themselves.
 Wand Creation
Wands are usually mentioned with four designations; wood, core, length and flexibility.
There are lots of woods which wands can be fashioned from. Preferred by Mr Ollivander are the floowing; Acacia, alder, apple, ash, aspen, beech, blackthorn, black walnut, cedar, cherry, chestnut, cypress, dogwood, ebony, elder, elm, english oak, fir, hawthorn, hazel, holly, hornbeam, larch, laurel, maple, pear, pine, poplar, red oak, redwood, rowan, silver lime, spruce, sycamore, vine, walnut, willow, and yew. However, Ollivander is also know to have sold one mahogany wand to James Potter, and an unknown wandmaker has fashioned Fleur Delacour's rosewood wand.
However, a wandmaker could not simply walk into a forest, pick up a twig and create a wand. He or she would have to find the right wood. Bowtruckles, magical tree guardians, opt to live in trees with wand quality wood (wand wood). It is unknown if wand wood has to be magical, or whether it just has to wood strong enough to withstand the magic inside it.
Wands hold magical cores, which are possibly magically inserted into the wand wood by the wandmaker, once the wand has been carved. These cores enchance the wand's magic, or give the wand wood it's magical ability. It is known that the core type influences the personality of a wand, and some wandmakers decide to use only certain cores. For example, Mr Ollivander opts to use only phoenix feather, dragon heartstring or unicorn hair in his wands. It is likely that these produce the best wands, as Mr Ollivander is known for producing excellent wands. Other wand cores include Veela hair and Thestral hair.
The length of wands can vary greatly, the shortest known wand (belonging to Dolores Umbridge) being 8 inches long, while the longest (belonging to Rubeus Hagrid) measured 16 inches. Wand lengths often corresponds to the owner's height, but this may not always be the case.
Wand flexibility is another thing which is not always included in the description of a wand, however it does say a great deal about the charcter of the wand (and owner). Examples of wand flexibilities, as described by Mr Ollivander, are Harry Potter, Bellatrix Lestrange, Draco Malfoy and Peter Pettigrew. Harry's was said to be "nice and supple, Bellatrix's "unyielding", Malfoy's was "resonably springy" and Peter's was "brittle".
 Additional canon
A third wandmaker, only mentioned in the movie, is Jimmy Kiddell, whose name is seen on a sign reading "Jimmy Kiddell's Wonderful Wands."
It is possible that Antioch Peverell was a wandmaker, as Albus Dumbledore believes that he could be the creator of The Elder Wand. This could, however, be the only wand he created, it may not be his profession.