Apple itself constructs its own picker (depending on some settings) out of 9 different views. I needed a new Horizontal Picker for iOS for places like a UITableViewCell or when the number of items you can choose from is limited. My picker omits the selectionIndicator as we have to deal with content of different width.
To let the user know which item is selected its colored by default with blue but you can use tintColor an specifiy what ever color you like.
Every drawing needed is done with core graphics so its a light weight project and deals perfect with different screen resolutions.
The picker width can vary in a wide range and should be adapted according to the content you intent to display.