I have made two shock mounts in the past week, and I'm "refining" the design and will have about 5 more made by the end of next weekend. I have been meaning to post instructions on my web site.
I use a piece of 1" or so outside diameter tubing (in my case I had a scrap piece of aluminum that works, but PVC is cheap and will work), sized so it fits in a regular mic stand clip like you'd use with an SM57. Get a 4" plastic embroidery hoop from a hobby shop, and a pack of ponytail elastics (the middle thickness... there are "thin" "medium" and "fat"... the medium ones are about 3mm or so in diameter and work the best), a couple of screws, some all-purpose adhesive and a pair of 1/2" long machine screws with nuts. You'll need an electric drill and a saw to cut down the tubing.
Separate the embroidery hoops into the two pieces and drill a hole in each one in the edge, just large enough for the screw you have to go through. Cut a piece of tubing about 5" long, and one one side of the tubing, drill a hole about 1'4" from one end, and another hole closer to the other end about 2.5" away. Put some glue on the hoops near the hole, and then attach them with the screw/nut to the piece of tubing. Get the screws tight, and get everything square and let the glue set. Don't use epoxy because it doesn't stick to the nylon that the embroidery hoop is made of, nor does it stick to PVC very well.
Once the whole thing is dry and solid, use zip ties to attach two ponytail elastics to each of the hoops, suspended between the edges of the hoops so that they form an "X". Move them around as necessary to that the middle of the "X" is dead center in the hoop, and the X's are aligned with one another. This takes 4 ponytail elastics total and 8 zip ties.
Once you do that, you're done. Stick it in your mic stand and you can kind of wedge a mic into the elastic "opening" between the elastics. My embroidery-hoop shock mounts will hold any mic I have from my skinny ECM8000's to my fat SP B1, will also hold an SM58 etc. Works great with my Oktava MK-219 and also has the benefit of dampening the body resonance.
I have some pictures of mine that I can post later, they are still in my digital camera. I made one from wood embroidery hoop, and although it looks better, it's nowhere near as durable as the nylon and I won't make any more from wood. I'll just use nylon. Total cost of this project is about $3.
This is not just a cheap DIY imitation of the "real deal", but I think this type of shock mount is a superior design to the others I have seen out there, mostly because it will work for nearly any mic, and the performance of the shock mount in terms of isolation is way better than some others I have used which were "made" for a particular mic.