I've made them both. Both are fun, but I prefer the twist up ones. Not so expensive.
This is the tutorial I used for the one with the metal pop up ring (this video includes lots of links to patterns and supplies needed):
https://www.youtube.com/watch?v=PzlbjImuWao
Here are lots of ideas and patterns for the pop up metal ring kind:
https://fatquartergypsyshop.com/pop-...p-up-patterns/
Another link to the twist up kind:
http://quiltingdigest.com/pack-and-g...hread-catcher/