This is a (not perfect) snap-together VR display. I use it in my classes to teach the basics of VR display design. Details are in the README.txt file. This is not intended to be viable VR solution for gaming or other "real world" applications. This is a teaching tool. The display is designed to be modified, and I encourage you to do so! If you do make modifications to this design, please share them and be sure to cite the original design. :)
We use ARToolKit markers for head tracking using the webcams on the students' laptops. It's a fun project and isn't prohibitively expensive (approximately $50). This is designed to house the Tontec 1024x600 7" LCD panel, available from Amazon and others relatively cheaply. The lenses that we used were 38mm diameter glass magnifiers with a focal length of 50mm (20 diopters). Even though they were glass, they were still surprisingly light plus they had very little distortion. Plastic magnifiers may also be okay.