pvc pipe (whatever size you like, i like a thicker one for grip work as well)
1/4 in drill bit
rope that fits accordingly
washer (for the knot inside the pipe)
carabiner
attachment for carabiner (shaped like a teardrop that you loop rope over)
one of those rope double over, screw down lock thingees so you can make your loop
thread the rope through the hole you make in the middle, tie a good knot with the washer under the knot. build your loop with the 2 pieces (mentioned above) and then snap the carabiner on. just loop the rope through the hole on a plate and clip the the carabiner on the rope above (slip type configuration)
voila