DIY Sequential Shifter with a ball plunger detent mechanism for added realism. The sliding bushings shown at 0:18 allow it to use only one spring for both up- and downshifts (most others out there use two). For more information see:
http://www.isrtv.com/forums/topic/19151-diy-sequential-shifter-build/
PS: Sorry for poor ipad camera quality...