You would just need two of these:
Link
One for each end with a Cat5 cable in between.
There are many companies that produce these types of products. I personally use CE-labs models which I can snag from epray for around $40 each.
Remember this is only one part of the picture as to how to setup this system and making the decision to use Component over HDMI is just one part. Also remember that Blu-Ray will NOT output 1080p over the component outputs even though the balun can transmit 1080p.
There is something called the
analog sunset which will allow companies not not output HD through analog connections. I don't know if you PS3 effected with any future firmware updates.