Step 4: 2 x 4 Stabilizer
Start by cutting off an 18 inch piece of 2x4. Sand both ends so that you don't scratch up your hands when using this rig. Then draw a line down the center of the board (9 inches from either side). Using a 1/4 inch drill bit, drill a hole straight through the center of the board at this point. Insert a 3 3/4" bolt with 1/4-20 threads through the hole and screw on the camera.(If you can not find a 3 3/4" bolt, substitute a 3 1/2 bolt and use a 1/2 inch drill bit to counterbore the hole on the bottom side.) Be careful not to over tighten the bolt.
This simplified design is not ideal because the hand grips are not in line with the camera. But it demonstrates how easily you can use whatever materials you have lying around to make a basic camera stabilizer.
Note: The actual dimensions of a standard 2 x 4 are 1.5 inches by 3.5 inches. So a 3 3/4" bolt should work in most cases. But since there is always some variation in both lumber and cameras, you may need to add washers or use a different bolt.