Equipment required is a lot of beer and a pair of dice.
Whoever is the person to roll, rolls then hands the dice off and has to drink until someone rolls equal to or greater to his/her roll or until they have no beer left. When someone rolls equal or better the dice are handed off to another person.
A variation of this is when it is handed off the second roller has to drink until two people get equal or greater rolls and so on and so forth for the third and fourth rollers.
You can hold up the dice and make your fellow players drink for awhile but thats kind of a dick move.