Or better yet...Michael Angelo sells one on his site although a bit pricey:
pics of it in use:
When I attended G.I.T. from 94 to 95..Roy Ashen one of my teachers there who tought the 8 finger tapping technique used a ponytail holder (The girly looking thick kind). He's even used a sock tied lightly around the first fret area.
I started learning guitar because of Randy Rhoads..but Yngwie J. Malmsteen is my biggest influence.