Here is how I make the flight stands I use for Check Your Six!.
I primarily use 1/300-scale miniatures, and these flight stands are designed accordingly. The finished stand has six TALs (height settings), each two inches in height. With a little forethought, you can easily adapt this technique for any scale models or ruleset.
All the materials used in these flight stands are available through your local DIY or hardware store. However, I've found that the smaller stores such as Ace or True Value have a better selection of items compared to Menards or Home Depot. The larger retailers mentioned do not even carry the brass tubing. If you plan on building many flight stands, you may want to explore purchasing the brass tubes through an online source, since the hardware stores don't usually stock them in any quantity.
K&J Magnetics is my source for magnets.
Here is a list of materials you will need. This will be enough for six complete flight stands:
Brass tube
X1 7/32" dia. x36"
X1 3/16" dia. x36"
X1 5/32" dia. x36"
X1 1/8" dia. x36" steel rod.
X6 Large washers 1-3/4" od ¾" id.
X6 Fender washers
Tubing cutter
Phillips-head screwdriver
Pliers
Hacksaw
X6 Hex nuts size 10-32
X6 Machine Screws size 10-32 x 3/4"
Small Pliers
Marker
Superglue (Cyanoacrylate)
Hobby knife
Ruler
Magnets
File