Gas giant planets have been detected in orbit around an increasing number of nearby stars. Two theories have been advanced for the formation of such planets: core accretion and disk instability. Core accretion, the generally accepted mechanism, requires several million years or more to form a gas giant planet in a protoplanetary disk like the solar nebula. Disk instability, on the other hand, can form a gas giant protoplanet in a few hundred years. However, disk instability has previously been thought to be important only in relatively massive disks. New three-dimensional, "locally isothermal," hydrodynamical models without velocity damping show that a disk instability can form Jupiter-mass clumps, even in a disk with a mass (0.091 M within 20 AU) low enough to be in the range inferred for the solar nebula. The clumps form with initially eccentric orbits, and their survival will depend on their ability to contract to higher densities before they can be tidally disrupted at successive periastrons. Because the disk mass in these models is comparable to that apparently required for the core accretion mechanism to operate, the models imply that disk instability could obviate the core accretion mechanism in the solar nebula and elsewhere.