From Toadwater Guide
Bamboo is fast-growing and does not require high forestry skill to plant. It can be used to provide forestry experience. Instead of wood, when you cut down bamboo you will obtain more bamboo shoots. Alternatively you can use a scutching sword on it to obtain bamboo stalks. These stalks can be woven into useful items and provide an early way to improve your textile and weaving skills.
There are two varieties of bamboo: Maso bamboo, and Golden bamboo. Both can be found whilst digging.
To plant Bamboo, select a Bamboo Shoot from your inventory and plant it on an empty square. The grow time for Maso Bamboo is 7 and a half minutes. Golden Bamboo takes 15 minutes to grow. Using a Maso Bamboo Shoot on a square of full grown Maso Bamboo will plant a square of Thick Maso Bamboo. Once grown, this appears to be identical to standard Maso Bamboo, with no increased yield of shoots, stalks, or XP.
Using an axe on Bamboo will yield Bamboo Shoots and forestry experience. Typically using an axe on Bamboo will yield more than one shoot, making it easy to acquire large amounts of Bamboo Shoots. It does not cause any reduction to the value or level of your axe.
Unlike trees, the yields do not seem to increase with age.
Maso Bamboo can be woven into a Radish Basket and Milking Gloves. Each item requires 10 Maso Bamboo stalks and 10 Maso Bamboo Shoots. Select the stalks, and use the seed bag icon (keyboard shortcut D) for a radish basket or the gloves icon (shortcut V) for milking gloves.
Golden Bamboo can be woven into a Herb Bag and Herb Picker Gloves. Each item requires 10 Golden Bamboo stalks and 10 Golden Bamboo Shoots. Select the stalks, and use the seed bag icon (keyboard shortcut D) for a herb bag or the gloves icon (shortcut V) for herb-picker gloves.