its just a conductive path from you to the ground, so if you were to wrap a bare wire around your wrist and either connect it to the case(sufficient capacity to serve as a ground, or truly grounded once the PSU is installed) or inserted it into the ground of an outlet you would have yourself an anti static wrist strap. I know some people who swear by them but most people i know dont use them, just touch the case periodically and you will discharge your static often enough to not have it be a problem.
I don't think using a wrist strap is a good idea. If you touch a high voltage source, with a grounded wrist strap on, then you become part of the path to ground. Ie: Fry City. Just make sure that you touch the pc case before you install/remove components.
No. It would not increase (or decrease) your risk of frying.
this thread might be inactive, but I just want to tell you or the other readers that IT IS DANGEROUS!!
putting wires at your hands and touching high voltage will just burn your hand, at least it won't burn your heart as current will run through your hand only, and not from hand through your heart then goes to toes..
jsc is right! an anti-static wrist band has a resistant (at least 1 kilo ohm) and a copper wire has "almost" no resistant; which will be just the same with you electrocute yourself.