I've seen a lot of DIY setups over the years, but every now and then one comes along that's so unstable it's scary and yet way too cool not to try. You can tell by the title that this isn't going to be some amazing setup with a hundred cameras arrayed. This is what it sounds like...A GoPro on a ceiling fan whipping around your subject while it films at high speed. If you're at all like me then your reaction one of "this is silly," but the results look really good! For those of you that don't know what effect "bullet time" refers to it is the effect in the movie The Matrix where the camera pans around the subject while it stays frozen in time. This is achieved by an array of cameras firing at the desired moment and then stitching together the resulting pan in post.
This rig isn't capable of fully "freezing time" like a proper array would, but the effect works well anyway as you can see in the final video above. Jeremiah Warren, the creative that put this all together also documented the process in the second video and in greater depth on his blog which you can view here. On his site he has the full description of how he made the parts and a video on the process as well. I highly recommend that you go check it out.