Ever since I saw Vanity's Ruler, it's been niggling away at my brain. Special Summoning is such a key component to every deck I've seen, taking it away would be absolutely crippling. Here's a quick build I've made of a deck centered around shutting down Special Summoning. Every card is under $2 (Most of them are under $1, all prices "average").
Level Eater - Discard it via Quickdraw or Tricky, then bring it back by "eating" a level of the recently-summoned 5-star monster, then you still have a normal summon left to bring out Vanity's Ruler. $0.27
Penguin Soldier - Cheap creature removal. Can bounce 2 creatures, a good way to clear up the battlefield (or bounce itself if flipped naturally). $0.14
Jowgen the Spiritualist - Randomly discard a card to destroy all Special Summoned creatures, and no monsters can be Special Summoned. Good to early lock out SS creatures, or can clean up late game. $0.52
Honest - Discard to boost the strength of a Light monster, i.e. Jowgen or Vanity's Ruler. $0.43
Kaiser Sea Horse - decent body, can be treated as two tributes for Vanity's RUler. $0.18
Quickdraw Synchron - Discard level eater (or any other monster) to Special Summon out to get to the two-tribute needed for Vanity's Ruler. $0.26
The Tricky - Same as Quickdraw, but better body and can discard any kind of card. $1.05
Big-Tusked Mammoth - Opponent's monsters can't attack the turn their summoned, giving me the opportunity to respond. $0.32
Vanity's Fiend - Denies Special summoning to both sides. Might be droppable, as made redundant by Ruler and Jowgen, and hurts Level Eater/Quickdraw/Tricky $1.88
Vanity's Ruler - Opponent's can't Special Summon. Deck centerpiece. $0.47
Thunder of Ruler - Buys me an attack-free turn. $0.25
Photon Sanctuary - Summons two 2000-attack tokens. Can't attack, but can be sacked for tribute (i.e., perfect for getting Vanity's Ruler out). Limits any further summons to Light monsters. -No Price-
My Body As A Shield - Pay 1500 Life points, counter and destroy a spell/trap/effect monster that would destroy a monster(s) on the field. Counterspell good for any deck that relies on creatures to lock up the board. $1.45
Dark Hole - Board wipe for when things get hairy. $1.11
Lightning Vortex - One-sided board wipe, but requires a discard (another way to get Level Eater in the graveyard, though!) $0.42
Smashing Ground - Destroy the opponent's monster with the highest DEF. A way to get rid of things that might impede Vanity's Ruler. $0.64
Offerings to the Doomed - Panic button. Quick-spell that can be used to destroy any face-up monster, but costs me a draw phase. $0.15
Mystical Space Typhoon - destroy spell or trap. $0.96
Heavy Storm - Wipe out all spells or traps (my deck runs only one continuos Spells/Traps, so there's very low risk on me).
Swords of Concealing Light - Like a reverse revealing light, locks creatures into defense-mode on my opponent's side for two turns. Buys time, or lets Vanity's Ruler take care of creatures with larger attacks but smaller defenses (another trend I've noticed with creatures). $0.84
Let me know your thoughts, suggestions, etc.