Try this link:
http://www.ohiogamefishing.com/forums/showthread.php?p=79906#post79906Here are the directions:
One (1) 2" x 2" x 18-24" board
One (1) wire coathanger, uncoated
Two (2) heavy guage springs OR coiled heavy-guage wire
One (1) #4 finish nail
One (1) 4" x 4" piece of bright, weather-resistant material
**this becomes the flag**
One (1) small spool
**"pony" spools from 100-yd. packs of fishing line work great!**
Four (4) 1/2" x 1/2" x 3/16" pieces of rubber (EPDM, if possible)
**cut a piece of 1/16" to 1/8" hose to obtain the rubber pieces
One (1) 3"-4" bolt, preferably 1/8" stock
One (1) wing nut of same thread size as the bolt
One (1) nylon washer, to fit the spool & the bolt size (more on this later...)
One (1) metal washer, to fit the bolt, wider than wing nut
Various bushings (latex or rubber tubing works great)
Drill a hole (~1/8" bit) all the way through the board, about 1" from the end. This is for the coat hanger. Now drill another hole about 6-8 inches below the first hole. make sure the holes are parallel (same direction). This is for the bolt that holds the spool.
Remove the hook portion from the coat hanger and straighten the remaining wire. Now feed the wire through the top hole and make two even lengths on each side. Bend each side in opposing right angles. Add one piece of rubber to each side, about 2/3 the distance to the board. Now place evenly matched (weight) springs or coiled wire (or other moveable weights) on each side of the hanger. Place another piece of rubber on each side of the hanger. [This makes the counter-weight system.]
Insert the bolt into the board. Fit the spool with bushings as needed. The spool should rotate easily on the bolt without being excessively sloppy (like a wheel-axle assembly). Place the nylon washer on the bolt first, then the spool, then the metal washer, and finally the wing nut. [Now you have a line spool with a drag system.]
Now rotate the coat hanger so that one side is opposite the spool. To the end of this side, make a small "v" bend. This is the line holder. The other end is where the flag is attached.
Adjust the balance to your satisfaction, then place the finish nail on the line holder side above the wire. [This is the stopper.] Use hot glue to attach the flag material to the other end.
Facing the spool, wrap the line (use Dacron!) in a CLOCKWISE rotation. If you do this in reverse, the drag doesn't perform properly.
Use the slush from your hole to pack around the base of the tip-up. Align the arm to be centered over the hole. Set your rig, then make a slp knot at the desired location (based on the depth needed) and hang the slip knot in the notch on the wire. You'll need to adjust the balance of the rig for the conditions (bait, wind, sensitivity, etc.). Enjoy the results!