This basket took only a few hours to make, and cost less than $60. It breaks down in less than a minute, and catches just as well as the ones in the park. The keys to the basket are finding the right size tire in good shape, not cutting into the steel belts when you are cutting out one sidewall, and letting the glue set-up before you screw in the eye bolts.

Materials:
1 tire (26" rim diameter when cut)
1 sheet 1/2" or 3/4" plywood, cut into three 23" circles (glue 2 together, cross biased)
2 24" long 3/4" cast iron or galvanized pipes, 1 3/4" female to female connecter, and 1 4" 3/4" pipe, or 1 24" and 1 28-29" pipe
4 3/4" end flanges
18-26 screw-eyes (depending on how many chains you use)
40'+ chain (24" per chain, most baskets have between 14-24 chains)
a few handfuls of short wood screws
2 24" 2x4 for the base
Tools:
Jigsaw and drill/driver(recommended) or screwdriver And about three hours time. Have fun!