Sorry this is so long, but there is tons of good info...
Bamboo forms a very hard wood, especially when seasoned, and is light and exceptionally tough. This makes it useful for many things such as houses (in tropical climates), fences, bridges, walking sticks, furniture, chopsticks, food steamers, toys, construction scaffolding, hats, martial arts weaponry, abaci and various musical instruments such as the shakuhachi, and jinghu. Modern companies are attempting to popularize bamboo flooring made of bamboo pieces steamed, flattened, glued together, finished, and cut. However bamboo wood is easily infested by wood-boring insects unless treated with wood preservatives or kept very dry.[citation needed] It has also been used as a substitute for steel reinforcing rods in concrete construction.
When bamboo is harvested for wood, care is needed to select mature stems that are several years old, as first-year stems, although full size, are not fully woody and are not strong.
Culms may be cut and hollowed into vases or drinkware, tubes, or pipes for liquids.
Bamboo canes are normally round in cross-section, but square canes can be produced by forcing the new young culms to grow through a tube of square cross-section and slightly smaller than the culm's natural diameter, thereby constricting the growth to the shape of the tube. Every few days the tube is removed and replaced higher up the fast-growing culm.
The fibre of bamboo has been used to make paper in China since early times. A high quality hand-made paper is still produced in small quantities. Coarse bamboo paper is still used to make spirit money in many Chinese communities.
The wood is used for knitting needles and the fibre can be used for yarn.
A variety of bamboo was one of about two dozen plants carried by Polynesian voyagers to provide all their needs settling new islands; in the Hawaiian Islands, among many uses, 'Ohe (bamboo) carried water, made irrigation troughs for taro terraces, was used as a traditional knife for cutting the umbilical cord of a newborn, as a stamp for dyeing bark tapa cloth, and for four hula instruments - nose flute, rattle, stamping pipes and Jew's harp.
The physical properties of bamboo make it a wonderful resource for craft work. However, the initial challenge for the craftsman is making sure the the culms will not be destroyed by beetles or fungal attacks or ruined by cracks and splits. A few basic rules may help for a successful harvest. Age, season of cutting, and post-cutting treatments are all crucial aspects. The culms should be mature (four to eight years) and should be harvested in the dry season.
It is also recommended to harvest in the “young” season, when the new shoots are at their maximum height but have not leafed out yet. At this point mature culms are less susceptible to pests attack because they are rich in fiber rather then starch. Low moisture content also minimizes deterioration.
Once the culms are harvested they are best placed in a well-ventilated, covered, shaded area, avoiding direct wind or sun as a quick drying may cause splitting. Heating techniques are also used to “cure” the culms. In addition culms can be coated with tung oil. Nevertheless, it’s suggested that non-chemically treated culms are eventually destined to deteriorate because of biological attacks, especially if outdoors and exposed to rain. For this reason it is often recommended to treat culms with chemical mixes based on boric acid, borax, (Tim-Bor) and insecticides. Culms could be impregnated by submersion, or left standing in buckets filled with the curing product.
A very thorough review of bamboo presevation techniques is covered in the Bamboo Preservation Compendium written by Dr. Walter Liese and Dr. Satish Kumar. The book describes the various pests and molds that afflict dried bamboo and the many treatments used in construction and crafts.
Most craftspeople harvest bamboo when it is between two and five years old. The tissue is too soft before two years and it starts to deteriorate after five (some books say seven). Some craftspeople (especially for fences, work baskets, etc.) use bamboo green. For high quality products, the bamboo is aged. Dried in the sun, stored, oil removed, air dried.”
Cutting is best accomplished with a machete, in a strong, quick motion in a downward angle, near the ground level of the plant. (if very young) If the plant is older you will need a hand saw.