Was actually considering just that! I was going to build it out of a 3" Galvanized pipe nipple, but after I priced everything up to build it the way I want (Which would have been by no means high quality) I would only be saving like $12, so I am just going to buck up and drop the $80 on a professionally made one. An investment that should last me a lifetime!
The one I am looking at comes with an unpainted finish, and painted, I am guessing I will want to go with the unpainted so I don't have tons of paint chips mixed in with the cons?