Step 1: Very Easy.
You'll need :
Metal strip with holes down it (sorry I don't know what this is called)
A rubber connector between the top of the pod, and the camera (it has tripod screws F and M)
A couple of fastners
A wrist strap *that you trust* on the camera
A pole, or second monopod.
Maybe a remote control for the camera.
Step 2: Let's Build This Sucker.
Now, attach that wrist strap onto the metal strip (I used those boat bolts you see there) and thread your remote control cable (if you have one) through that too.
Have a remote is nice, otherwise you're going to have to edit out the first couple of seconds of footage as you start it recording, and hoist it up.
Step 3: Film!
I'm seeing one of those belts people that carry flags have, the ones with the little cups, as something to fix the bottom of the monopod into.
Remember to switch the recording off before you lower the camera, otherwise you'll have to edit out the last few seconds, as well as the first! ;)
Step 4: And You're Done!
My first attempt, in my garden.