Basically, this method entails getting traffic to your Amazon affiliate links through the use of StumbleUpon. You can really use any affiliate program, but I will be explaining this from the perspective of using Amazon. The key ingredient here is creativity, and without it, you will fail.
Let's begin the process:
1) First things first you need to choose a theme/niche for your site. This is THE most important part. Do not choose something like flat screen TVs or washing machines. You NEED to choose an interesting product - a product that catches peoples' attention. Generally speaking, these products will be innovative and fun.
2) Once you have chosen a fun/creative product, you need to build your site. You can choose to promote your site with SEO as well if you like, but I won't be explaining that in this post. When creating your site, do NOT make it a straight up e-commerce site. Make it as if you are just an "average Joe" sharing products that you find interesting. Make the site fun, and don't make it look overly monetized. StumbleUpon users are looking to have fun and see cool new products, so you have to appeal to their wants. StumbleUpon users are not usually in "buy mode" so it is your job to find them a product they can't resist. You can sell people on anything if done right.
3) The next step is compiling products for your niche/theme. You can compile whatever number of products you like. The more products you use, the more successful the site will be. For each product, write a brief, interesting description, show some catchy images, and of course, include your Amazon affiliate link.
Okay, so now you have your site set up and it is ready for action. The next step is reeling in the traffic. You are going to do this using nothing but StumbleUpon. Let's go:
4) Add every product on your site to StumbleUpon manually. Keyword here is manually - automation will not get you the results you want. Of course, choose the category that best fits your product. If your product fits multiple categories, choose the one you believe is most popular. Once you choose the category, start setting tags. This is EXTREMELY important. Your tags can make or break you. Think of things that you believe users will type in. Make sure you are properly targeting users, because if they don't like your page, you will lose traffic, and consequently, lose money. Experiment with the tags. See what works and what doesn't. You can add all of your products all at once, but I would recommend pacing them out over a period of time. of course, you can always add new products to the site.
5) Analyze what is working and what is not. Sometimes, changing one word in your tags can increase your visitor count by 100 people. Change your categories if necessary. If you find that you are receiving a lot of traffic, but it is not converting, then you will need to mix around your landing page and see what works. For this kind of marketing, every little thing can make a difference so don't disregard anything.
For those of you who have a hard time visualizing this method, here is an example of a site that this would work wonders for (and I'm sure it does). This is NOT my site, merely an example of a great idea.
You can twist this method by appealing to other popular social bookmarking sites such as Reddit and Digg. You can also add AdSense to your landing pages to monetize them a bit more, but be tasteful with it.
What are you waiting for? Go make Money!