Omegle
For video chatting you can use Skype, Google Video Talk and Facebook for free.
Here is a list of best webcam sites you can use Camfavs.com
Google it, but none of them are free.
By doing video with the webcam
Kinda hard to make a suggestion without knowing what kind of webcam you have. Your best bet is google "free webcam software" and you will find several sites with free software (including free downloads from the webcam manufacturer). You can then refine your search for your particular application and download.
There are many places online that offer free webcam chat room services. Web sites like Shock Room, Tiny Chat, Silly Webcam and Tokbox offer free webcam chat rooms.
The best price on a cheap webcam can be found at eBay, where quality used webcams and accessories can be bought for a fraction of the cost of a new one.
You can google webcam effects as what I have done that. I discovered that Cool and Free webcam effectswebsites are so few. Magic Camera ranks highly in Google search. You can download this software to have a try. I provide you its download sites http://shiningmorning.com
A webcam will sometimes be be offered free as a bundle with other purchases as a promotion. Otherwise, webcam software, content and chats are widely available for free, but typically not the webcam itself.
Someone looking for a hot female for webcam chat might look at dating sites. Some sites encourage webcam chatting before physically meeting an individual.
There are many sites available, and it is all up to what type of site the user wants. If you use a simple web search, you will find many results for webcam chat sites.
You can get webcam fairly inexpensively from any store that sells computer goods like Best Buy, or Circuit City. You can also get them from sites like amazon if you can wait for them to ship it to you!