The device used to perform this magic trick is actually pretty simple. It consists of three main components, which are:
1) the seat
2) the shaft, which extends up from the platform (and appears as a staff), into the sleeve of the performer, then down to the seat
3) the platform, which is covered by some kind of rag or blanket (as shown in the picture), while the shaft and seat are covered by the baggy clothing of the performer.