The Woods is a Tier 1 dungeon and more than likely the very first a player will go to. This dungeon, along with Volcano are intended to help players get a feel for what dungeons are like.
At tier 1, you wont have access to too many items. The best you can start off with is the leather armor, and wood weapons from the shop. If you dont want to spend the money, you could easily get through the level 1 tiers without armor, or a bow. To the right is the recommended inventory for newcomers.
Players start off in a wooden house with a lootable chest. From there players can exit the house and enter the woods. To the west of the house, there is a redstone lamp, just east of that is a lootable chest. There is also another chest north of the house.
Players can then head north deeper in the woods. (Some players mind find it useful to bring a potion of night vision, as it can become difficult to see during some points in the woods.) Heading farther north, players should see two torches, just past the west-most torch is a quartz portal that will teleport players back to the den.