almost.
imagine a do-nut (no, not the ones with jam in them)
now wind a coil of wire round round it, that will only give you single phase as there is only the one coil
now try 3 coils, all sitting side by side, but covering the whole of the do-nut.
now stick a bar magnet in the middle on a shaft now spin the shaft hey presto, 3 phase.
that is very basic but it is how its done.
the speed of the magnet determines the frequency
in the uk its 50hz (50 times / second)
The size of the wire used determines how much curent you can get out*
the voltage is determined by the number of turns (i am not 100% on that one)
in reality they dont make 415v its too low, they make a couple of thousand as its cheaper / better.
now note this.
The higher the voltage the less current is required to operate a device, BUT if the voltage is too igh it will fry the device. That is a fact.
so when they generate electricity they need to send it all over the place, since you cant buy it in packets, and it runs down cables they have a grid to send it all over the country.
lets play with some numbers too ilustrate this.
town A need 100Amps @ 500v
now town A is 10 miles away
to get 100 A to go 10 miles would need a cable that is 10 inches in diameter (remeber i am playing with numbers)
now as a 10 inch cable (3 required 1 for each phase) is expensive what they do is increase the voltage.
so instead of 500v they increas it to 5000 volts.
as the voltage is now 10 times as big, they can use a cable that is 10 times as small
so you now only need a 1 inch cable / phase (much cheaper)
when it arrives at town A 5000 v is way too much
they install a transformer
this transformer transformes the voltage back to the 500v that is required at 100 amps
The transformer is a star delta transformer
there is a triangle each side has one phase
in the middle is another set of 3 coils in a "star shape" Y (almost)
The centre of the Y is earthed
AND that is also where the neutral comes from
there is no electrical connection between the star and delta coils, but as its moving at 50 hz it generates a magnetic filed in the delta coils
as the star coils are sitting so close (but not connected) to the dellt coils magnetism induces a current / voltage in the star coils
which is why transformers do not work on dc but only on ac , because ac moves and dc doesnt
simple but clever isnt it.
Reality check
I invented the figures to make it easier to follow.
the laws of physics say you will get some voltage loss
but the idea is how its done.
I trust this helps / easy to understand