>>> L.L, what do you use to diffuse the co2 into the water?
I have used ordinary fine airstone type diffusers - but always noted some of the CO2 was escaping at the surface. Now I feed the CO2 into the input tube of a power filter train. There are commercial CO2 "diffusers" available - never used them but the sintered glass ones have had good reviews - probably expensive.
>>> water/sugar/yeast
If you are using ordinary bakers type yeast, 2 cups of water, 2 cups of sugar and 1/4 - 1/2 teaspoon of yeast - ideally "started", (mix the yeast and a little blood temperature water in a bottle and leave it in a warm place with some cotton wool in the neck to avoid infection for 24 hours).
If you can get hold of brewing or winemaking yeast, you can use more sugar as the alchohol produced by the fermentation kills off ordinary yeast before brewing yeast before winemaking yeast.
The recipe depends on a lot of things. The mineral content of your tapwater for example - Sodium, (salt), is generally fatal to yeast, quantities of Calcium and Magnesium can prolong it's life. In winemaking/brewing shops, you can buy a special mixture of salts which are used for just that purpose.
Remember to keep your gear clean - i.e. sterilised before each session otherwise the ferment will go sour.
For real info on getting the most out of a yeast CO2 system - browse the net looking at home brewing and winemaking - in addition to CO2 - you can end up with some suprisingly drinkable by products.