Yes, with a crafting table, point at it and hit left trigger. That brings up the crafting table's menu. Then, bumper along to the different areas, the tabs will lead you, tools, food stuff, transportation, etc. Use left analog to move through that menu. When you are on an item you want to make, press A and it will make one. Hold down A and it will make that item until a material runs out.
1. Press X
2. Right/Left bumpers to go through the different categories for crafting
3. Move the analog stick right and left and then select the item you want to craft
4. Make sure you have the materials to craft what you want
5. Happy Crafting!
EDIT: You should craft a crafting table so that you can craft more items.
^^^^ Click it! You know you want to...
ill play with u next week cuz im getting gold membership on january