Go for it. It takes a little getting used to working with the material. Getting a feel for when the kydex is at the right temp to work with with takes some trial and error, but you can always start over (unless you get it too hot) and keep trying.

A basic foldover sheath is pretty straightforward. I did a tutorial quite a while back and posted it here. I found the same thing I posted on a different forum and the link is below. Definitley give it a try, it is fun and relatively inexpensive. Leather work is even more fun for me and definitley more challenging.

http://www.knifeforums.com/forums/showtopic.php?tid/794008/

Good luck,

Ron