A pinhole camera is a light tight container with a small hole at one end and light sensitive material at the other. That's it. A lifetime can be spent right here. No need to go to the more complex forms.
How it works (In recommended order):
Tin Can Perspective (the Oatmeal can view)
Making the camera: the heart of the pinhole camera is the pinhole itself.
ability easy takes practice easy cost low low high sharpness* low medium - high high*Sharpness if of course a relative term with pinhole cameras.
Tables:
Focal Length to Pinhole - you decided on camera size, what size pinhole does it need.
Pinhole to Focal Length - you already have a pinhole, what size camera does it make.
F# Progression - pinhole cameras go way beyond F16 . . .
The Ideal Pinhole (or Pinhole Math) - how to get as sharp as possible with a pinhole camera
You can also use one of these calculators:
Simple pinhole calculator- quick and dirty, but works
Pinhole Calculator 3.1 - anal, for those more interested in making cameras than using them, sigh, like me.
Next is the container:
Construction - 35mm, Classic Oatmeal, Tin cans, etc.
Pinholgas - 120 film pinhole camera made from a Holga plastic camera (working on this page)
And of course you can purchase a pinhole camera already made. More and more appear all the time. See Sites & Supplies