You'll almost certainly have to leave your stick in place for a few days (or even weeks, depending on how many woodpeckers there are in the vicinity of your chosen site) before you see and woodpeckers. Remember to keep the stick filled with peanuts on a daily basis. If nothing has removed the nuts after a few days, replace them with new ones to avoid inadvertently poisoning your subjects with mouldy nuts. I find hanging a peanut feeder in the nearest tree helps attract the woodpeckers. Once they find the stick, you can remove the feeder.
Woodpeckers are pretty shy. You'll need to have some sort of hide in place to conceal yourself from them. Again, this needs to be in place for a while so that the birds become used to it.
What you use to make your woodpecker stick is largely a matter of taste. I've used all sorts of logs and branches. Sometimes I use something man-made for variety, like the old fence post in the image below. Here, peanuts are 'glued' to the inside of the hollow using lard.