Wood can be broken by hand, but a Hatchet speeds up the process.
Wood generates naturally as part of trees. Trees can also be grown using saplings.
One wood can create four wooden beams.
Wood logs can be used as a fuel in furnaces, smelting 1.5 items per log. However, it is far more efficient to craft one of the wood into wooden boards: each of the 4 boards will burn as long as the log would have, for a total of 6 items. Smelting wood into charcoal can also be an effective way.