It looks like this is all the rage in the blog world:
Take the look of a high-priced fixture and make it yourself,
This Moooi light is priced for about $2400
but all you really need is a large balloon,
white yarn, fabric stiffener (for the yarn) and a home depot light kit, all under $15 total.
(image from Oakland Avenue)
just remember to remove the balloon..
This lamp is made with a simple paper latern, a light cord, a glue gun, and lots of coffee filters...
(DIY from Kara Parlay Designs)
Or you could do what Design Sponge did with their paper latern and cover it with paper icicles...
or these paper laterns covered with doilies from Curbly:
or these covered with silk flowers or trim by Crafty nest:
This is not a DIY, but an amazing light carved from a dried gourd- but hell, why not try it?
(image from Fresh Home)
And just for fun, a little DIY, Chuck Norris style: