Hi LavendarDawn -
For my first bin, I just used a rubbermaid bin that I had drilled lots of tiny holes in along the sides and top. The bedding was a few inches of peat moss. It always stayed a little on the wet side. So when it was time for another one, I used a bigger bin and propped up some heavy wire mesh in the bottom for drainage and on top of that some fine mesh. The bedding was around 6 inches of shredded newspapers.
For the worms, you need to get "red wigglers." I had ordered a pound of them off the internet. If your bin is really small, you can buy red wigglers at a bait and tackle supply.
We add all our kitchen vegetable scraps, banana peels, apple cores, etc. to it. Also old coffee grounds, CP scraps like old Nep pitchers, trimmed off flytraps, etc. We don't add any meat or greasy food scraps. Bready things are OK. It helps to add a small handful of dirt or soil on top of the scraps.
The finished compost is amazing stuff. They first time we used it it was like an "instant garden" and created a carpet of seedlings of different plants. At the time, we didn't know that a lot of vermicomposters first spread the compost out on a tarp or something and after everything sprouts then turn it over. The tomato seedlings that grew from the compost were our best plants last year!
There is a book out there with more info called, "Worms Eat My Garbage" - I think it was written by a teacher.
I hope this info helps.
WildBill