Wooden Logs can be obtained by cutting up a tree using a Hatchet. You can do this by walking up to a tree, right clicking the hatchet in your inventory and selecting "Chop Wood." You will then begin chopping between 6 and 12 logs, depending on the size of the tree. The animation will play for each log chopped. You can interrupt the animation at any time by simply walking away. There is a small chance that your Hatchet will break while chopping wood. Logs are vital for base building.
Logs can be split into two Planks, and further down into Wood Piles.