Your in a cabin in the woods, your circuit is due tomorrow and the parts store is closed. You need is a few resistors now!
Step 1: Gather the materials
To make resistors you need a volt-ohm meter, some paper clips, slips of paper and a graphite pencil. I prefer a No. 2 pencil as a No. 1 is harder to find in an emergency.
Step 2: Scribble resistance
Applying steady pressure scribble a smudge with no line breaks on a piece of paper. The graphite in a No. 2 pencil has electrical properties. More familiar circuit resistors are made from carefully calibrated graphite wrapped in non conductive shell with connecting leads protruding. Read http://en.wikipedia.org/wiki/Resistor
Step 3: Add the paper clips
Push two paper clips onto the paper so the metal of each clip is touching the graphite smudge.
Step 4: Measure the resistor
Attach the leads of the volt-ohm meter to the paper clips and measure the resistor value. Move the paper clips closer together to decrease the resistor value.
Beware (mild): Don't let your fingers touch the leads when you are measuring the resistance. Your human contact to the leads with body resistance will distort the meter reading.
Beware (medium): Don't let the paper clips touch. If the paper clips touch there is an electrical 'short' as there is no resistance and your circuit might get damaged.
BEWARE (HIGH): This is LOW VOLTAGE SOLUTION - - do NOT use this in high voltage circuits.
The results of this DIY resistor vary enormously - - you did it yourself!