Define an action of $\mathbb{Z}_2$ on $S^1$ by $(0,z)\mapsto z$ and $(1,z)\mapsto \bar{z}$. An orbit of $z$ is then the set $\{z,\bar{z}\}$. I claim the orbit space $S^1/\mathbb{Z}_2$ is homemorphic to $[-1,1]$.
Proof: Define $f:S^1\to [-1,1]$ by $f(z)=\Re(z)$. This is evidently continuous and if $z\sim z'$ then, for instance if $z'=\bar{z}$, we have $f(z)=f(\bar{z})$. Thus by the universal property of quotient maps, there exists a continuous function $\phi: S^1/\mathbb{Z}_2\to [-1,1]$ such that $\phi \circ \pi=f$ where $\pi$ is the canonical projection of $S^1\to S^1/\mathbb{Z}_2$. In fact, we have the luxury of writing $\phi([z])=\frac12(z+\bar{z})$. By a well known theorem, it is clear that $\phi$ is a homeomorphism, being a continuous bijection from a compact space $S^1/\mathbb{Z}_2$ (being the continuous image, $\pi(S_1)$), and the Hausdorff space $[-1,1]$.
But if instead you use an action that takes points to diametrically opposite points, i.e. $(0,z)\mapsto z$ and $(1,z)\mapsto -z$, then the corresponding orbit space is readily verified to be homeomorphic to $S^1$.
My three questions are 1) is the above proof and afterthought correct? and 2) is there a way to characterize all the orbit spaces of $S^1/G$ by various actions of $G=\mathbb{Z}_2$? and 3) Where would one want to begin studying algebraic topology if you come from an analysis background with knowing group theory, linear algebra, and basic point set topology? (like the most vital prerequisites, or fundamental concepts, is it appropriate to study Homology before homotopy, vice-versa, or concurrently? etc...). Sorry if the last two questions are too broad. Thanks!