http://www.steadicam.com/
click the link and it will have a bunch of pictures of the legit steadicam.
i don't have one / ever made one but my friend made one and its just like a tripod (don't know if gopros have tripods) but you connect it to the camera, and add weights to the bottom.
you can figure out a way to connect a metal pole / rod to the camera then just add weights to it, = steadicam