I made this for a LARP character a couple. All it is is a wooden rod with a ribbon wrapped about it, a bit of electrical tape, and a fancy-looking piece of costume jewelry attached by a nail through the top. I recently decided to paint the bottom section, using a simple white enamel and some blue tape to protect the upper portion. Here is the original: [link]
Rachel showcases it in a few shots at the bottom, along with one of the black and white outfits for her current LARP character and a bracelet and necklace I've made for her. Of the many staffs and canes I've made, this remains perhaps my favorite.
It's been a while since I got it, but I am pretty sure I just got a fairly common wooden dowel from a hardware store. It might even have been intended as a curtain rod or for closet hangars, I forget; I find you can make use of all sorts of odds and ends. I used a whole roll of ribbon on the top portion.