Can I figure this out?

         I wonder if I could make this little stool, its adorable. I think I could knit it, but how do I make the circle? Have I knit a circle shape before? Would I knit in the round and make a tube? How do I make the sides? How do the legs attach to the knit part? This is seeming more complicated then I thought. It looks simple, but I don't know that it would be. I would need the following items I think:

• Heavy weight/bulky wool
• Large needles- maybe a size 12-14mm
• Stuffing
• 4 "legs"- pieces of trunks or branches
• Glue

Any suggestions?

*Not sure where this image is from, but it is not mine.