Here is the version I made. Link to step-by-step instructions coming soon.

Ringflashes, they always produce such a cool look. With a lure of nice even wrap-around lighting beginners to "off camera lighting" are often disappointed to find out how much these can cost.
Enter the realm of the do-it-yourselfer, a quick google search will yield all sorts of ringlight contraptions. Recently two products have emerged to fill the niche for budget ringflashes, the Rayflash and the Orbis Ringflash, both seem to be derived from DIY projects. Both of these, like so many of the DIY versions rely on light from a Speedlight style flash, because of this they still aren't a genuine replacement for a real pro ringflash.
Last week I walked into the local photo store and saw that they had some Rayflash units in, I was immediately intrigued. After asking the salesperson to grab one for me I opened the box to see what all the fuss was about. There was no chorus of angelic voices, no warm soft glow emanating from the box lighting up my face, there was only a cheap feeling plastic ring. Now I'll admit the that it looks like it will do the job but really $300 CND? All it is is plastic, plastic that bends the light from your flash at 90° then channels it around your lens via lightpipes. Maybe I'm too critical, I just think this could be priced more reasonably at $100-$150 and this Ray guy would still be rich ;)
I haven't yet seen one of the Orbis Ringflash units up close and personal, from what I can gather its priced pretty close to the Rayflash. The Orbis design is more like the one I made, a ring with a hole at the bottom to shoot your flash into. It also appears to have some "trick" for bending the light around your lens. Regardless both are overpriced in my opinion but if you aren't much of a tinkerer or just don't have the time to try making your own they might be right for you.
Setting out to make a ringflash
I'm not going to go into full instruction mode in this post, instead I'll save that for my post on
www.instructables.com and just update this post with a link to it.
Over the last 6 months or so I've been infected with Strobisitis a condition that afflicts photographers that accidentally stray to strobist.com and see the world of portable off-camera lighting. I went into a flurry of DIY mayhem putting together snoots and grids, bounce cards, and finally stumbling upon the beauty dish. The light from a beauty dish is similar to a ringflash but its still not "on axis" since you're not shooting through it. I did not know how big to make the beauty dish so I had made up 3 variations using different bowls I had picked up at the local $1 store. For months this former Halloween treat dish sat nicely painted just waiting to be used or tossed away. This was its chance.
Inspired by
this guy's rig that was posted
here at strobist.com I decided to make my own attempt. For my version I decided I wanted to use a diffuser on the front to try and even out the light a little more, I also wanted to include a bracket like
this guy did.
I had the bowl, I had spray paint, I still had white nylon leftover from a semi-successful softbox attempt. I even had the aluminum stock from a previous project, now all that I needed to do was mash the stuff together.
For the center whole I ended up using a plastic peanut butter jar that I cut the ends off of. The fabric diffuser actually worked out without a hitch (had to bring it to my mother to sew though ;) and I managed to get the brackets bent properly on the first try.
Front and side view of the DIY ringflash. The bracket still had to be painted black.
Quick test shot of my nephew as he walked in the door.
I'll put up some real test shots later but this showed me that the light distribution was pretty even. The non-flash side is a little darker but there are a few things I've still yet to try to even it up. For around $20 of material I'm pretty happy with the results.