You can make a lot with a welder, chopsaw, and angle grinder. Here are some of my projects that I've used my welder for, working from easier to more complicated.

Rear bumper: http://www.extremefabricator.com/BB/viewtopic.php?t=68
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Swing-Down Hi-Lift Carrier http://www.extremefabricator.com/BB/viewtopic.php?t=68
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Rock Sliders: http://www.extremefabricator.com/BB/viewtopic.php?t=13
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Factory AC + On Board Air Bracketry: http://www.extremefabricator.com/BB/viewtopic.php?t=45
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Rear Wheeltubs: http://www.extremefabricator.com/BB/viewtopic.php?t=14
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Tube Front Bumper: http://www.extremefabricator.com/BB/viewtopic.php?t=51
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I can't begin to tell you how many other projects unrelated to my truck that I've used a welder for. If you get addicted to this stuff, you will have a list of things you want to do that far exceeds how much time you have available. For a beginner welder, I would start with box tube bumpers and sliders and make more stuff as your skill improves.

[color:"darkgreen"]1986 4Runner - 4" IFS - 63" Chevys - 33" ATs - 5.29s - Rear Detroit
Sliders - Kayline - Rebuilt 22RE - On Board Air AND Factory AC
www.xtremefabricator.com[/color]