It sounds awesome, and I'd like to join, but I don't have the money to get materials and whatnot :/
Is there a specific weapon you have to start with? Because with a smidgen of luck, you can get weapons together cheaply.
Knives: leaf springs and similar bits of scrap high-carbon steel make good blades. Just grind to shape and add a handle.
Axes: Go to a car boot sale or whatever's the equivalent where you are. Buy an old axe, take an angle grinder to it, make it into an authentic shape and blunt it. Haft it and you're shiny.
Shields- The boards? Get some plywood, cut it into shape, glue cloth to one side and score the other to look like planks. Paint the cloth.
The boss? Get some scrap sheet metal and hammer it out into a bowl shape. I use an old pipe flange for doing mine.
The handle? Scrap pine can be found in many skips. It doesn't need to be anything fancy.
Rivet it together with nails and washers.
Swords, spears, etc are a bit trickier. As for clothes, charity shops, Freecycle, etc, can be a great source of cheap cloth. They'll probably have patterns you can use, if not people who can walk ya through it.