I have demonstrated the building process and use of the stabilizer in this video.
Here's a cool little gadget that you can use to seriously reduce camera shake. With this stabilizer, I find that I can hand hold still photos at least 3 stops slower that I could without it.
It also folds up to store easily in your pocket. Unlike a tripod, Its portable enough that you'll never mind taking it along.
Step 1: Parts List
1 1/4 inch diameter bolt with coarse threads. You'll probably want the shortest one you can get. You could also use an eye bolt with the same threading.
1 piece of string a little longer than you are tall. The string needs to be a kind that doesn't stretch much.
1 large washer or other small weight. Take a look at the video to see how this works, and then use whatever you have available. One good idea might be something that you could wind the string around.
Take a look at the video to see how all this is going to work.