I don't know about making the beads, they're so cheap buying by the bag that it may now be worth it unless you're looking to make them from a specific wood. I had to drill holes in a bunch of balls when I was making the holders for my router bits; drilled a hole to match the ball diameter in a piece of scrap plywood and then cut a saw kerf from the end, through the hole and a little bit past. Used the bit to line the hole in the plywood up with the chuck, and clamped it to the DP table. Change to the bit needed for the through hole, drop the ball in the hole and clamp across the saw kerf to hold the ball and drill the hole through the ball. Worked pretty good, only took about a minute per ball once I got going.