I'm an utter woodworking newbie when it comes to anything but rough framing a wall. I'm looking to get my feet wet and wanted to try installing some molding in my house.

I really like the profile above, but the place wants $50 for 8' of it in poplar! I figure it wouldn't be too difficult to make it myself for much cheaper if I can find the correct router bit. I've been browsing around online and didn't have much luck finding a matching profile. My questions are:

1) Am I correct in assuming that it's as simple to make as running the stock past a router? I don't understand the outrageous cost of buying it premade if it's that easy.

2) How to I make the profile I want? Do I have to keep looking for the right bit, or is it more common to use multiple passes with several different bits to get the desired cut?

Thanks!