I'm looking for something that I can attach to my Nikon D5000 that will allow me to hold the camera steady, similar to a tripod, but MUCH lighter and easier to setup. I'm thinking it could also dub as a walking cane when hiking. Do they make such a thing? If so, what is it called?
You may want to take a gander at the trekpod. It is a monopod and a hiking staff!
There are a lot of monopods out there. You can also buy a bolt that screws into the tripod hole in the bottom of your camera. Attach a length of twine to the bold that will reach the ground with a couple of feet to spare. Step on the twine and raise the camera to pull it taught. There are companies that make devices like this too. Just so some Google searches for camera monopod twine and camera monopod.
Have Fun, Jeff