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Depends on the router. If it supports QoS you can limit bandwidth to specific devices on your network.

Personally I'd go for 2400 bps. That way whoever it is can feel the good ole days of dial up in all it's glory. It'll also need parental controls in the router to randomly bump the person. So, they know what it was like when someone picked up the phone. :D
 
Simple to do in MacOS (or any *NIX flavor), lots of different [free] options: pfctl / dnctl from terminal (optionally, use Throttle which just wraps some configuration and scripts around the aforementioned), you can snag the free additional XCode tools (not the full XCode), that include the Network Link Conditioner (if you want a UI solution).

All the above assumes a single machine (vs. doing it upstream at the router), and if it's just one machine, using a browser, as pointed out, Chrome dev tools makes it super easy as well.
 
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