Things you'll need:
Old tool handle (or any other piece of plastic)
Drill
Drill bits
Caliper (or something to check diameter)
Patience (a little)
First remove the old shift knob (its a pain in the a**)
Check the size of the threads on the shifter with a caliper:

Get a bit that is a little smaller then the threads on the shifter:

Drill out the "knob" just a little bit with the bit you selected, just a little bit for a test fit:

at this point, just try threading the knob onto the shifter to see if it threads alright, it may take a bit of strength to do.
If it all fits ok, then continue on..
Measure the length that you need to drill out so the knob fits just above the shift boot:


Now, you'll notice the shifter increases in diameter right below the threads, so we need to compensate, measure the distance from the bottom of the threads, to the point where you want the bottom of the knob
Use a caliper to get the diameter of the larger part of the shifter.
The largest bit I had on hand was a 1/2in (standard bit) SO I just used that, even though it was smaller then the diameter of the shifter (continue reading)

Mark the larger bit with the depth you will need to drill out (bottom of threads, to bottom of where the knob will sit)


Once drilled out with the largest bit you have find the same size "butterfly" bit and bore it out to the diameter you need.

REMEMBER TO TEST FIT OFTEN, YOU DON'T WANT IT LOOSE!
Here is how mine sat unthreaded:

Threaded:


Teaser of how high it is off the console:

