The Holga is an amazing camera!
The holga is a perfect camera for beginners just learning how to compose an image and understand light all the way up to pro's who want an artistic look with traditional film.
Heres the specs. The shutter speed is roughly 1/100Th of a second, w/ a fixed aperture of f/5.6. The lens just like the entire camera is plastic. The beauty of the camera is that you never really know what you are going to get. This in turn makes you focus on composition and lighting rather than worry about shutter speed, focus, etc.
Because of the way the lens is shaped and how close it is to the film plane most of your images are going to get a beautiful vignetting effect around the frame.
I strongly suggest you purchase one they are only $20 and you can buy an external Holga flash for them for another $8. Do not buy the one w/ the flash in the body because I have heard of batteries falling into the camera body, leaving your negs. with a battery image on them.
The film that it uses is 120 medium format that you can develop yourself or get developed at any descent camera store. You can also shoot 35mm film if you buy an $10 adapter or make one yourself.
Good luck and have fun............
If you want to see some examples check out my website. There is a section called Holga.
www.alanwinslowphotography.com