It's a block of hardwood (cherry, from an old crib), 2.75"x2.75"x1" in dimensions. I used my drill press to drill out a 1.5" hole (A) in the middle for the 1.5" outer diameter aluminum focuser tube. I then drilled a second hole, 3/8" in diameter, all the way through from one side to the other (B), so that hole A and hole B would meet and overlap by 1/16". This second hole is for the focusing rod.
Finally, I drilled two more holes from one side to meet up with hole B (C and D) for adjustment screws that press on the focusing rod through PTFE pads, and tapped them to fit the adjustment screws simply by forcing a screw into the wood. These PTFE pads (E) are small strips of 1/16" PTFE
I purchased an 8" x 1" x 0.0045" strip of self-adhesive PTFE tape (F) on ebay from mousetape.com for about $3 shipped. I stuck a strip along one side of the focusing tube.
I then enlarged the 1.5" hole in the middle slightly. My method of doing this was to use a sanding drum mandrel
Update 1: I added knobs. I had some oak circles from using a hole saw on some piece of oak some time ago, and after sanding them (by putting on a bolt and spinning with a drill against a sanding block), I press-fitted them on the focusing rod. If it starts slipping, I'll drill a hole through the rod and knob and put in a screw.
Thanks: I am grateful to John Wall for the idea of putting PTFE on the focuser tube.
Update 2: I just had a bit of trouble with the wooden thread for one of the adjustment screws getting stripped. Treating the hole with CA glue helped, though.
Update 3: And here is a not-to-scale diagram of what the main holes in the block of wood look like.