You can craft items such as arrows, ingots and rings by using the resources you collected and placing them in the crafting slots at the crafting table.
Crafting Table[]
The crafting table can be found at the first town

When you open the crafting table you will see the contents of your inventory on the left and the crafting/result slots on the right.
By dragging specific resources to the crafting slots if the resources can craft an item, you will see items appear in the crafting results slots below the crafting slots.

When you see the item you want to craft in the result slot, tap on the item you want to craft and it will begin to craft the item.
Each craft item has a different craft time and craft success probability as shown below.
Crafting Items[]
Place the recipe items for the item you want to craft into the crafting slot and tap the result item to start crafting the item