Diamond Axes are mainly used to chop down Trees and Wood-related Blocks. It is also used as a weapon for melee attacks. In order to create Diamond Axes, you should have diamonds and wooden sticks. From wood, you can also make Planks. You just need to broke Oaktree, Spruce tree, Birch tree, e.t.c. and you'll get wooden logs. For those, who like Minecraft there are diamond axe sparkling cursor and birch log pointer!