Is a wooden lock as tough as one made out of metal? Nope. Is buying a lock easier than building one? Absolutely. Is a lock you made with your own two hands significantly more badass than anything you can purchase, ready-to-use? Without a shadow of a doubt.
If you're looking for an unusual woodworking project to undertake, Matthias Wandel has you covered. You can buy the plans for his wooden mechanical lock, here. Once you do, you'll also get access to the plans for a laser cut iteration of the project. While it might not provide the level of security that you'd want for keeping your valuables safe, the level of whimsy that this project could bring to a woodworker's life looks like it would be hard to beat.