There's been a slight debate on whether this actually works or not. Whether it's convection or radiation, etc. I believe it's radiating the heat which isn't as effective as if it was convecting it. The original designs I found online has a hole at the very top which I guess allowed more convecting. I like mine because it's simply a little cleaner and easy on the eye. It gives off a little heat and is good for your desk. I keep mine directly next to my keyboard and it feels nice while I'm on Instructables!
Check out my personal website here: ParaVival
Note: If you have big washers with a small 1/4" hole in them, you can use 5 washers total instead of 10. Also, the two large 1/2" nuts are simply spacers. If you want you can use a small 1-1/2" section of a small pipe, or anything that comes to mind. You will see what I'm talking about in step 4.