I think making that would be quite fun, and relatively easy as far as some of the MMPR props go. I had heard that the actual staff they used either had gotten bent or broken during a rehearsal or something and they had to duct tape the thing back together. My guess the actual one may just have a dowel rod that had been sanded down beyond a certain point on the rod itself, with the 'Z' made somehow.
If I had to guess at the color though, they might have spray painted the whole thing with a clear protective coat, or foiled the thing. Who knows? you could always just ask Saban. (*snorts*)