I was taking a ton of jewelry pictures today and decided to step back and bit an let you see the homemade light box that I use to take the pictures. I put this together after reading the following post: http://makingitlovely.com/2008/10/16/faq-product-photography-part-two/
Instead of fabric batting, I use a white cloth shower curtain. I have two small clamp lights with “day time light” bulbs and am using this tripod. http://www.amazon.com/SUNPAK-620-FLEXPOD-Flexpod-Flexible-Tripod/dp/tech-data/B000JC8WYA. It is not the greatest, but it works and was cheap. I am shooting with a normal point-and-shoot camera and crop/touch up lighting differences in Photoshop.
Here is the set-up: