Bring out the DIY dandy in you!
I used ready-made parts, which make it a bit more expensive - especially the ornament, which counts for 2/3 of the cost. However, if you can find an old ornament or door-knob, this project is dirt-cheap.
You can whittle your own cane, if you want to:
Step 1: Shoppy time!
1. Glide-pins (big "tacks"), prefrably with rubber soles (you will only need one per walking cane).
2. Curtain-rod (or whittle a staff); length: +/- 1 meter
3. Curtain-rod ornament / doorknob, or salvage or cannibalize one instead.
4. (Outdoor) woodstain, paint and/or varnish. Pick your own color.
5. A flat paintbrush
6. Some string
I found all this stuff at my local hardware-store, but (thrift)shopping for a nice ornament / (door)knob pays off double, since it is the heart and soul of your cane and by far the most expensive part.