A few years ago, I published an Instructable for a rubber band mic shockmount that was became featured on the home page. I received positive feedback, but after finally using it in the field, I didn't like it. The rubber bands tended to move too much and the whole thing looked cheap. I think I've come up with a better build that is tougher, easier to make, and less expensive.
Step 1: Parts list
4 rubber bands - FREE (rubber bands are everywhere)
1 1/4" x 1/2" Tee fitting - $1.20 at Lowe's