Here's how I make inexpensive and light-weight polymer beads...
Step 1: What you'll need.
-Knitting Needle or Exacto-Knife or Stylus
-Liquid Polymer Clay (preferable)
-Wood Beads (size is up to you)
If you don't have a "pre-made cane", look for an instructable on "how to make a polymer clay cane". I'll probably have one out in a couple of hours. ;)