The process is completely identical to installing from binaries except for the Installing section. In fact, to prevent duplication these instructions point you to the post install part of the binary installation.
su root
mkdir /usr/local/downloads
Then we can download the distribution:
cd /usr/local/downloads
ftp ftp.mysql.com (user: anonymous password: email address)
cd MySQL-3.23
bin
get mysql-3.23.28-gamma.tar.gz
bye
tar xzf mysql-3.23.28-gamma.tar.gz -C /usr/local/src
cd /usr/local/src/mysql-3.23.28-gamma
./configure --prefix=/usr/local/mysql
make
make install
There might be some small differences since some scripts are still in the source directory structure, not the installed one. For example, mysql_install_db is located in the scripts directory in the /usr/local/src structure. You should be able to find most things pretty easily.