But, fun aside, it took quite a bit of gear and preparation to create. Just the lights (KONOVA Pro 900 LED) and camera (RED EPIC) are about $32,900 without all the accessories. But.. seeing what goes on behind the scenes on this is a great experience nonetheless. It is short, but packed with tips about setup, direction, and avoiding mess.
The actual video was shot using 4 KONOVA Pro 900 LED panels semi-circling a seamless white, with a RED Epic shooting the video -> see the setup the top of the post.
While 120 FPS at 4K expensive to make, you can get 120 FPS with a GoPro HERO3: Black Edition at 720p.
SFST are also about to release an on budget setup for a slo-mo booth, so you may wanna hit their vimeo channel.
Update: indeed they went for a gorpo :) here is the quick tutorial: