I made this a few Months ago when I started getting in hiking and Hanging but couldn't afford a nice lantern with the cost of all the other equipment needed.
It consists of a small opaque bottle that fits in my oil sample machine at work (free).
The nice thing about the bottle not being clear is that it helps spread the light evenly.
A nine led flashlight from Harbor Freight tools (free with coupon).
A foot of 1/8 amsteel left over from whoopies.
A $3 battery holder that holds 4 AAA batteries and has a small on off switch built in. I picked up some rechargeable ones from wally world.
I fed the wires from the battery pack through the amsteel. Then cut out the led board from the flashlight and mounted it inside the lid of the bottle. I put a permanent loop on the top of the amsteel and fed it through a small hole in a sunglasses bag. then added a biner to hang it.
A few people from the Richloam trip got to see it in action. It's plenty bright enough to walk around in the woods at night.