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Here's me, demonstrating how the splitter I made from scrap material at my house works. It was made out of the need for splitting kangaroo hide from 1mm to 0.5mm to be able to make a fancy, two-tone, 16-strand, riding crop.
The advantages are: very cheap (the main cost was buying the disposable blades), easy to make with tools available at most houses, and fast (it took a couple of hours to put it together.
Its disadvantages: You need a vise, a C-clamp, and its construction lends itself to some variation in the thickness whenever you change lace and set it up again to split.
You can read more about it at my blog.