Clean all the dirt and debris from an old horseshoe and remove all the nails from the holes. Leave the horseshoe with the natural, worn patina, or polish it to a shine using a fine grit sand paper if you prefer a shiny horseshoe.
Thread the length of 20-gauge wire through the top nail hole on each side of the horseshoe to serve as the hanger for the dreamcatcher. Use the needlenose pliers to twist the wire on the back side of the horseshoe. Remove the excess wire by cutting it off using the wire cutter.
Create the net pattern inside the horseshoe using the fishing line. Cut a piece of fishing line about 4 to 5 feet long. Insert the fishing line through the top hole on the left side of the horseshoe and tie a knot in the back. Loop the fishing line over the hanging wire across the top twice and then insert the line through the top hole on the right side of the horseshoe. Tie a knot to secure the fishing line on the right side.
Thread the fishing line through the second hole on the left side. Bring the fishing line across the center of the horseshoe. Thread the line through the second hole on the right side. Repeat threading the fishing line from left to right until you thread the line through the last hole on the right side.
Thread the fishing line through the back of the center hole at the bottom of the horseshoe. Create a net pattern by threading the fishing line over and under the fishing line that is stretched across the horseshoe. Loop the fishing line over the 20-gauge wire at the top of the horseshoe.
Tie a knot to secure the line to the wire at the top of the horseshoe. Loop the fishing line over and under the line stretched across the horseshoe back down on the right side. Thread the fishing line through the hole to the left of the center hole and tie a knot.
Stretch the fishing line across the bottom of the horseshoe to the hole on the right side of the center hole. Thread the fishing line through the hole. Loop the fishing line over and under the line that is stretched across the horseshoe until you reach the 20-gauge wire at the top. Tie the fishing line in a knot to secure it and then cut off the excess line with the wire cutters.
Decorate the dreamcatcher net with feathers, beads, leather strips or shells. String beads on some of the fishing line and tie a feather to the end of the beads. Hang the beads in groups of two or three from the bottom of the horseshoe dreamcatcher by securing them to the fishing line stretched across the back of the horseshoe.