This project is a toy ship for my 5.5 year old son. I wanted him to participate meaningfully. He participated in drilling, cutting, and painting and taking measurements. Also in screwdriving. He made some holes and countersinks in brass bars that are attached to the bottom for stability.
The balsa piece that the ship is made of, was purchased for $10.04 from McMaster. It is 2x3x36" piece item number 5068K41. The masts are made from maple and also were bought from McMaster. (a pattern seems to emerge)