Or, you can buy one or two of these.
They normally sell for around 30 bucks a pop, but this website has them for 11 dollars. They are tre' cool and also look great when yer dancing around. There's also a slightly cheaper version called the Xlight available on the main Photon page through that site (the link I use is lights4raves.com) which gives a rainbow solid flashing effect. If yer not looking to be that colorful, the photon's in general are very powerful, very sturdy lights. The cheap ones you will find, the knockoffs, the little 2 dollar shoddy jobs are not worth the trouble. I have a pair of photon 3's I use to dance with, and I've dropped them, thrown em against a wall, sat on them, etc and they are still working fine.
Also, if yer looking for something a bit crazier, I'm currently working on getting together some clear PVC pipe, at about 3/4 width, and either going to buy some glowsticks, or some of the new battery powered glowsticks, and create a 5 foot long lit walking stick. The benifit of getting PVC, which is a bit more expensive then, say, clear plastic tubing, is that PVC will fit standard PVC pipe fittings, and that means you can cap the ends with two threaded caps, thus making replacing batteries/glowsticks, etc much easier. While glowsticks do make more trash, and this is a bad thing, the battery powered ones tend to be rather flimsy, and at 15 bucks a pop there-a-bouts, can get expensive. But, the pro's of the battery powered ones include triple colored versions, AND the ability to set some or all of the bits to strobing.
While you could work something out with a walking cane using EL wire, again, the glowstick staff means greater mobility for dancing and such.