This circuit is based on mobile phone chargers. These chargers are based on the Motorola MC34063 switchmode IC. By changing the values of the feedback resistors (R1 & R2), the output voltage can be varied over a wide range. Just modify R1 and R2 according to the formula: Vout = 1. 25 (1+R2/R1). The values shown give an output of 3V.