Not really a new way to toke (it's basically a grav bong) but if you make it right its super sick.
Step 1: Buy a handle of grey goose or similar shaped bottle (i.e., straight and tall, not skyy, not smirnoff, not svedka)
Step 2: Drink that bitch
Step 3: cut a long thin piece of cloth out of an old t-shirt (has to be an absorbant fabric). Fill a bucket or small trash can with water and lots of ice.
Step 4: Dip fabric into 90% rubbing alcohol and let sit for 5 minutes.
Step 6: Quickly take it out, and wrap the piece of fabric around the bottle about 2 inches from the bottom. Try to get it as straight as possible. Light on fire
Step 7: Let it burn till the fire is pretty low, then dip it into the ice bucket. If you've done it properly, the bottom usually just falls off, but if not, tap it a little against the side of the bucket.
Now you have 1 section of grav bong. For the section you fill with water and fit the bottle into, go check out ikea (or similar) for jars. I found a clear one that goes just about to the part of the goose bottle where it starts to narrow.
For the bowl, find a plastic wine bottle cork that fits into the top of the grey goose bottle and try to make a hole straight through (lengthwise). Then, go to your local head shop, and find a bowl with a glass stem built in that is longer than the cork. Put the stem through the cork and voila! Put ganj in bowl, put cork gently and not too far into goose bottle, goose bottle into jar filled with water, and rip.
Not saying it's easy, but if you want a classy grav bong that shows you're a dedicated smoker, there's none better.