Hmmm.... Homemade Clay (Paper Clay)

So I have been experimenting with different homemade clays because I really want to make paper clay.  I know paper clay is reasonable but the thought of driving to Michael's makes my head hurt.  I also don't want to order it because I will be really mad if I don't like it.

So I Googled homemade paper clay and everything I have found is for paper mache or a low fire clay.  I have made paint, I have made paper mache, recycled every kind of clay I can think of, how hard can this be?  This is what gets me into trouble every time I think of doing something like this, because I become obsessed until it works or fails epically.  I am waiting for joint compound (my mom is sending me 2 - 3lb buckets) and once I have the joint compound I can really start to experiment.  I think if I add cornstarch to the mixture that it might just work as clay or a usable clay.  I made a batch of cornstarch clay a recipe I found on Family Fun.  Worked well but too much salt for what I wanted but I am pretty sure if I cut the salt to a 1/4 of a cup and add cornstarch to the overall paper mache mixture, it will work.  I can't wait to get the joint compound - come on UPS man! 

I seriously have been thinking about this for over a week, making notes in my sketchbook - maybe try this or that - puree the toilet paper in a blender, add cornstarch and salt.  Until I start experimenting I have know idea if it will actually work.  If it works I will be posting how to make it and if it doesn't I will also let everyone know.  Creative paper clay ingredients are listed as volcanic ash, talc, water, starch, wood pulp, and preservatives.  I don't have everything (volcanic ash - but the joint compound is usually lime base and contains talc) I have been working with clay and mortar for a while (Historic Preservation and all) hopefully that unfinished college education will pay off - lol! 

I did make a batch of the cornstarch clay and made a pig with it:

Can sculpt it nicely but carving it is a challenge because of the salt.  When you start sanding it it crumbles, I think the joint compound and the toilet paper will help.