Need to Do: DIY hanging cord light

I've just got a quick note today since I'm at work and should be, you know, working.

I saw this awesome hanging lightbulb on The Daybook (which I'm now completely obsessed with, by the way) and I can't get over how great it is. I was considering making something like this for the nursery (I'd put it on a dimmer switch obviously) but then this weekend at IKEA I found some awesome track lighting that I feel in love with.

I'll have to for sure make these for a different area of the house some day, I'm thinking using some bright colors!