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Making a lifting handle for a bike would be easy.! I wouldn't consider steel pipe due to the tight radius' required. Both would likely require the two bolt-tabs to be welded and few have welders, let alone a method to bend. Steel "Tube" may be too thin. Farming this out will Co$t.
I have made a folding handle using a 3/8" universal joint for the folding aspect. A foam sleeve over a piece of pipe makes a comfortable handle.
But, for those that want a OEM style custom handle that will fit over aftermarket shocks, this is my suggestion:
Get a piece of 1" thick aluminum the length and width to suit your pattern. A CNC/Machine-shop/Fabricator would be a good source. Transfer the top-view pattern to the material, cut it out on a band-saw, drill the two bolt holes and go at it with your files. Polish, paint or powder-coat.
Those that can fabricate will understand. For this project, aluminum is easier to work relative to steel and I can see this being completed and mounted in about 4-5 hours, depending on your choice of finishes.

There is also the 'B' option. This seems to offer a better grip, but I like my aluminum better. It was black, so I had to polish it. This one would need some chrome if on my bike. It's also straight forward to fabricate.

Still has to be bent $$ and welded $$

0h, for sure, unless you have a workshop. If I had a place, welding machine would be the first thing to buy. So much can be accomplish with it, even if cutting and drilling has to be by hand!

I got this one off Ebay. I think US $15, just needs cleaning. I think this is the cheapest option. Not always available, haha, but they show from time to time. There is one perfectly painted on Ebay now, if you want to spend $45 and shipping.

No debate about that price ! But the idea was aimed around the easie$t mean$ of making one that will fit over aftermarket shocks, some of which prevent the use of the OEM handle.

Good stuff! I just thought this pipe type is good to throw into the pool of possible designs, and it's stock as well. It's quite straight forward. I'd probably forget about the welded bracket, flatten the right end, and drill a hole. Sort of like the stock aluminum I just mounted. Wold be cool to see one made from aluminum, as you laid it out. Any plans for making one?