Based off of the Frugal Filmmaker’s DIY steadicam, so I don’t go over the whole how-to. Rather, I give my personal tweak to the design. This allows me to carry a tripod which doubles as a DIY steadicam, rather than a tripod and a separate merlin style DIY steadicam, such as the Frugal Filmmaker’s PVC version. Here is the link to his video:
Frugal Filmmaker’s DIY Steadicam
-Update: I rarely use this anymore. Adobe Premiere Pro CS6 has a very good Warp Stabilizer built into it. Although not perfect, it does a fine job of taking away small and manageable camera shaking from handheld shots. I still try to use a tripod or camera arm whenever possible.