Pine
Pine is the wood you can find in your hardware store. While good for most projects, it is soft.
Oak
Oak is a fairly rare but very good wood. It is hard, good for any project, and beautiful.
Hickory
Hickory is very stong and mostly used in tool and axe handles.
Poplar
Poplar is probobally the best wood for projects, it is light, easy to work with, and very smooth.
Ash
Ash is a good in between from hickory and oak, it is hard but can be used for general projects.
Maple
Maple is the best hard wood for woodworking, it is a hard wood but is very beautiful if finished.
Why Does The Type Of Wood Matter?
Well the type of wood you pick for your project is very important. Say you want to make the second project (a mallet) and you use a soft wood for the handle. It would break in no time. To be a succesful it is necessary to understand what diffrent types of woods are good and not good for. Here is a link below to explain why the diffrent types of wood are important.