There are voltage regulators that will accept 12V input, and deliver a variable voltage output, controlled by a potentiometer on the board. They will handle 10's of Watts, and cost $10-15 on Amazon or Ebay. For many people this will be way easier, and less expensive, that trying to build one.
im not trying to build a voltage regulator.
im trying to build a logic inverter to turn the pwm back around so the fan speeds up when it gets hot instead of slowing down.
the circuit needs 5v to run, because that is what sets the pwm to full speed.. or my fans case, zero speed.
i can just plug the fan into the 12v molex for power, the inverter into the 5v on the molex for power and then just use the sense and pwm wire connected to the s5.
ok i redesigned my schematic.. tell me if this will work.. the blue wire doesnt connect to anything it goes straight to the fan.

edit, for anyone that cares, or bought this fan like i did.. this works 100% and was easy to make..
for the transistor, i just used a 2222a NPN one the E is pointing UP, it goes to ground... 2 1k resistors and a 10k.