How to get a wildcard mask?

Could you elaborate on how to obtain a wildcard mask? For those who are new to networking or the intricacies of IP addressing, a clear explanation would be invaluable. Specifically, I'm interested in understanding the process of determining an appropriate wildcard mask for a given network setup. What factors should be considered? Are there any common pitfalls or misconceptions that should be avoided? Additionally, could you provide an example scenario where a wildcard mask is utilized and explain its significance in that context? Your insights would greatly assist those seeking to enhance their understanding of network configuration and IP addressing.