Cut a strand of yarn and glue it to your wooden bead.
Wrap, wrap, wrap, like a ball of yarn.
Put the small bead on the head pin.
(a note: Depending on the size of the hole in the wooden bead, you may not need this. That small bead is to keep the head pin in the wooden bead, because the hole is too large.)
Fish around amid the yarn until you find the hole in the wooden bead.
Stick the head pin all the way through the hole and push the small bead as far as it'll go.
Take a short strand of yarn and dab some hot glue on one end.
Glue it to the yarn ball, at the base of the head pin.
Wrap the yarn strand up the head pin, loosely. Dab some hot glue toward the end of the head pin, and wrap the yarn up to that point, leaving a little bit of the pin uncovered.
Place the earring hook on the head pin.
Bend the end of the head pin around forming a loop around the earring hook to keep it in place.
And there you have it!