After getting the hang of putting the right amount of pressure and angling the drill the right way, I finally was able to drill some holes using the 3/32 drill bit. After the wood chips all over my living room floor, I decided to move my project OUTside and thus, success! It was time consuming and my hand cramped up a bit, but overall, it was a successful DIY! I found the piece of wood while shooting my friend's save the date photos and therefore (without the cost of replacing the drill bit, which was $1.94), the project would've cost nothing!
I plan on using the pencil holder for some new art pens I've had my eyes on :)
Did you do any DIY projects recently?