Starting reference:
http://www.ecmtuning.com/wiki/ethanolsensorparts
The most commonly available Flex Fuel sensor around the market are the GM ones that send a 50Hz square wave out at E0 and 150Hz out at E100. 190Hz is output for water contamination.
We can buy a controller off the shelf to read the square wave frequency and convert it to a voltage signal that the ECU can read easily: available from any one of the vendors at the moment - saves a lot of time, but where's the fun in that? Alternates are to make our own frequency to voltage controller box or code the ECU to do the frequency analysis internally.