This combination shin splint and forearm exerciser can be made with simple pipe tubing from a home improvement store: Tubes, caps and elbows--The tubing is relatively cheap. I recommend wrapping the pipe threading with PTFE tape to make sure the pipes fit snugly together. Pipe insulation makes a cheap padding. Then wrap the handles with tennis tape to get a good grip.
You can work the outer part of your lower leg, the tibialis and foot extensor muscles with this device as shown below. Strengthening these muscle will help prevent shin splints while jogging.
You can also grab either of the three sets of handles and curl your hands back to work your forearm extensors from two or three different angles. 90 degrees, 45 degrees, or the 180 degree foot bar.
The amount of weight on the end is adjustable.