Disclaimer: This only works with the tools that are in the item frames. The only thing you can change is the material given for it - so no different items.
Version two of my "Lazy Man's Crafting Selector" (seen here). The original was built as a challenge response to MaizumaGames on YouTube, and after only two months, I have gained a TON of knowledge in redstone.
Here's how to use it: 1. Press button 2. Look in chest 3.??? 4. Profit