Fancy SchmancySeam Ripper is STILL worth it.

https://www.ebay.com/sch/i.html?_from=R40&_trksid=m570.l1313&_nkw=hand+seam+ripper&_sacat=183268

(go to Ebay, search term: hand seam ripper)
OR

https://www.etsy.com/search?q=seam%20ripper

If you have ever wondered if buying one of these was worth it, it certainly has been for me.

Yes, you can buy all the parts online. 
https://www.pennstateind.com/store/seam-ripper-kits.html
And if you have a lathe, you're in business.

What sold me on this particular one was that the vendor specified the type of blade (and there are many out there). And then delivered on it.

It feels great in my hand, Just enough weight and size to make it easily turned, light enough not to wear my old hand out. 

Lookit them porky pinkies. Always been a big handed gal

The Japanese blade is superlative. And it's sooo pretty.

And it's been sharpened. The point is practically microscopic. Which is good, because the stitching on this chiffon is pretty tight. This showed up in the nick of time!

This is my unpaid testimonial. The fella who made this is no longer online, but plenty of other people do. 
Or you can make your own, with the steel parts and a wad of Fimo, or a hollow handle (regular flatwear knives work) and a tube of two-part epoxy.

https://www.threadsmagazine.com/2013/08/22/another-look-at-kenneth-d-kings-sewing-space#ixzz3g4NC4qTM&i

Kenneth King photo and tools, from Threads Magazine (link noted above photo)

A good tool always makes the job go better and faster and happier.