To create a child theme of the Twenty Fourteen theme in WordPress, you need WordPress installed and access to the server files. You then create a new folder with the child theme name inside wp-content, add a style.css file, and paste code from the WordPress codex to designate it as a child theme. Finally, you activate the new child theme from the WordPress dashboard. This allows customizing the parent theme without overwriting updates.

1. Source: http://www.blog.web6.org/twenty-fourteen-child-theme/
http://www.youtube.com/watch?v=-wNApNN5_dY
Creating Twenty Fourteen Child Theme
You need:
1. WordPress is already installed. So it's not for Wordpress.com
2. FTP Client like Filezilla or access to cPanel
FileZilla Mac download: https://filezilla-project.org/download.php?type=client
FileZilla Windows download: https://filezilla-project.org/download.php?type=server
Steps to create Twenty Fourteen child theme
1. Access wp-content folder inside your wp or site directory, create new folder for your
child theme, say, MyTwentyFourteen. Inside this folder, create style.css

2. 2. Go to: http://codex.wordpress.org/Child_Themes, copy and paste the below code in the
picture to style.css
It will look like this:
Go to your dashboard, "Appearance" "Themes" and activate your new child theme
3. Refresh your blog, if the page source is checked, you will be using twenty fourteen child
theme now.