Tonight I was able to get my 5v to 12v toggle fan switch. I am going to the hardware store this week to pick up liquid electrical tape because I hate normal electrical tape and don't feel like using heatshrink. The 5v power source comes from the normal fan and the 12v source comes from the molex I installed and I used the 3pin to molex adapter that came with the fan.
The fans, wiring, and switch:
Close up on the switch:
Close up on the original xbox fan wiring: