This crazy do-it-yourself project brought to you by Unplgged:
"Sorta ugly, but also really cool modification of some has-been tech into something you can use everyday for years to come: the VHS Toaster! The DIY project even results in some VHS branded toast, for that extra touch of 80's magic. Slow motion action video and links to instructions below."
Full instructions here: http://www.unplggd.com/unplggd/look/-102361